Astec Industries, Inc. (NASDAQ:ASTE) Receives $42.50 Consensus Target Price from Analysts

Astec Industries, Inc. (NASDAQ:ASTE) has been given an average rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.50.

A number of equities analysts have recently commented on the company. BidaskClub upgraded Astec Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, June 9th. Sidoti lowered Astec Industries from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Thursday, April 23rd. Finally, Robert W. Baird lifted their price objective on Astec Industries from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th.

NASDAQ ASTE traded up $1.11 during trading on Friday, hitting $45.52. 135,594 shares of the company traded hands, compared to its average volume of 173,059. Astec Industries has a 12 month low of $25.17 and a 12 month high of $49.18. The business has a fifty day simple moving average of $43.13 and a 200 day simple moving average of $40.37. The company has a market capitalization of $1.03 billion, a P/E ratio of 36.13 and a beta of 1.23.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.61. The company had revenue of $288.80 million for the quarter, compared to analyst estimates of $291.53 million. Astec Industries had a return on equity of 6.99% and a net margin of 2.53%. Astec Industries’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, equities research analysts predict that Astec Industries will post 1.3 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL grew its position in Astec Industries by 1.5% during the first quarter. Gamco Investors INC. ET AL now owns 1,271,077 shares of the industrial products company’s stock worth $44,450,000 after buying an additional 19,207 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Astec Industries by 129.8% during the fourth quarter. Franklin Resources Inc. now owns 1,083,981 shares of the industrial products company’s stock valued at $45,527,000 after purchasing an additional 612,317 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Astec Industries by 37.7% during the first quarter. Victory Capital Management Inc. now owns 854,120 shares of the industrial products company’s stock valued at $29,869,000 after purchasing an additional 233,729 shares in the last quarter. State Street Corp boosted its holdings in Astec Industries by 8.1% during the first quarter. State Street Corp now owns 723,646 shares of the industrial products company’s stock valued at $25,306,000 after purchasing an additional 54,194 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Astec Industries by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 697,884 shares of the industrial products company’s stock valued at $29,311,000 after purchasing an additional 12,044 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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