Dougherty & Co Lowers Astec Industries, Inc. (NASDAQ:ASTE) to Neutral
Dougherty & Co cut shares of Astec Industries, Inc. (NASDAQ:ASTE) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat reports. Dougherty & Co currently has $85.00 price target on the industrial products company’s stock.
Separately, BidaskClub downgraded Astec Industries from a sell rating to a strong sell rating in a research report on Wednesday, June 21st.
Shares of Astec Industries (NASDAQ ASTE) opened at 50.07 on Wednesday. The stock has a 50 day moving average price of $55.37 and a 200-day moving average price of $61.20. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 23.83 and a beta of 1.11. Astec Industries has a 52 week low of $47.34 and a 52 week high of $73.37.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $301.90 million for the quarter, compared to the consensus estimate of $314.31 million. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, equities research analysts forecast that Astec Industries will post $2.53 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Astec Industries during the first quarter worth approximately $103,000. State of Alaska Department of Revenue boosted its position in Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock worth $129,000 after buying an additional 40 shares during the period. Quantbot Technologies LP boosted its position in Astec Industries by 110.2% in the first quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,144 shares during the period. Acrospire Investment Management LLC boosted its position in Astec Industries by 7.0% in the first quarter. Acrospire Investment Management LLC now owns 2,789 shares of the industrial products company’s stock worth $172,000 after buying an additional 183 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Astec Industries during the fourth quarter worth approximately $206,000. 79.42% of the stock is owned by institutional investors.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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