Astec Industries (NASDAQ:ASTE) Stock Rating Lowered by StockNews.com

Astec Industries (NASDAQ:ASTE) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Robert W. Baird upped their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Trading Up 1.7 %

Shares of NASDAQ:ASTE opened at $35.57 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. Astec Industries has a 52-week low of $28.46 and a 52-week high of $44.74. The stock has a market cap of $811.00 million, a price-to-earnings ratio of -444.57 and a beta of 1.31. The business has a 50-day moving average price of $35.27 and a 200-day moving average price of $33.68.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $291.40 million during the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. Astec Industries’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS.

Hedge Funds Weigh In On Astec Industries

A number of large investors have recently bought and sold shares of the business. Tompkins Financial Corp acquired a new stake in Astec Industries in the fourth quarter valued at approximately $34,000. GAMMA Investing LLC grew its stake in Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 458 shares during the period. R Squared Ltd purchased a new stake in Astec Industries in the 4th quarter worth $42,000. Point72 Asset Management L.P. acquired a new position in Astec Industries during the third quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Astec Industries during the third quarter valued at $49,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.