Shares of Astec Industries, Inc. (NASDAQ:ASTE) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $41.00.
Several equities analysts have recently weighed in on ASTE shares. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. ValuEngine downgraded Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th.
Shares of NASDAQ ASTE traded up $1.00 during midday trading on Friday, hitting $30.77. The stock had a trading volume of 247,300 shares, compared to its average volume of 142,090. The firm has a market capitalization of $670.74 million, a P/E ratio of 10.54 and a beta of 1.47. The company’s 50 day simple moving average is $30.90. Astec Industries has a 1 year low of $27.86 and a 1 year high of $62.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 1.10.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.19). The firm had revenue of $325.78 million during the quarter, compared to analysts’ expectations of $338.68 million. Astec Industries had a negative net margin of 5.67% and a positive return on equity of 9.53%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 EPS. Equities research analysts anticipate that Astec Industries will post 2.33 earnings per share for the current year.
In related news, insider Jaco Van Der Merwe acquired 2,000 shares of Astec Industries stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average price of $32.75 per share, for a total transaction of $65,500.00. Following the completion of the transaction, the insider now owns 4,579 shares in the company, valued at approximately $149,962.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund bought a new stake in shares of Astec Industries during the 4th quarter valued at approximately $262,000. Prudential Financial Inc. lifted its position in shares of Astec Industries by 28.7% in the 4th quarter. Prudential Financial Inc. now owns 49,754 shares of the industrial products company’s stock worth $1,502,000 after purchasing an additional 11,097 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Astec Industries by 29.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 391 shares during the period. California Public Employees Retirement System lifted its position in shares of Astec Industries by 288.6% in the 4th quarter. California Public Employees Retirement System now owns 178,943 shares of the industrial products company’s stock worth $5,402,000 after purchasing an additional 132,899 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Astec Industries by 1.2% in the 4th quarter. BlackRock Inc. now owns 3,303,257 shares of the industrial products company’s stock worth $99,724,000 after purchasing an additional 39,207 shares during the period. Hedge funds and other institutional investors own 92.86% of the company’s stock.
About Astec Industries
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.
Further Reading: Price-Sales Ratio
Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.