Astec Industries, Inc. (ASTE) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analysts maintain a “Buy” consensus among five covering firms, with an average 12-month price target of $52; Freedom Broker recently cut its target from $60 to $52.
• Astec reported quarterly EPS of -$0.01, missing the $0.47 consensus, while revenue of $352.4 million also fell short of estimates of $375.5 million.
• The stock traded at $37.59, closer to its 12-month low of $35.05 than its high of $65.69. Astec declared a quarterly dividend of $0.13 per share, equivalent to a 1.4% yield.

Shares of Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) have earned a consensus recommendation of "Buy" from the five brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.00.

A number of equities analysts have weighed in on the stock. Freedom Broker reduced their price objective on shares of Astec Industries from $60.00 to $52.00 and set a "buy" rating for the company in a research report on Monday. Zacks Research upgraded shares of Astec Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Astec Industries in a research note on Monday, November 2nd.

Hedge Funds Weigh In On Astec Industries

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Astec Industries in the second quarter valued at about $25,000. Nykredit A S acquired a new position in Astec Industries during the second quarter worth about $25,000. Fortitude Family Office LLC grew its stake in Astec Industries by 1,128.8% during the 3rd quarter. Fortitude Family Office LLC now owns 639 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 587 shares in the last quarter. Parallel Advisors LLC grew its stake in Astec Industries by 988.4% during the 3rd quarter. Parallel Advisors LLC now owns 751 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 682 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Astec Industries during the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 93.16% of the company's stock.

Astec Industries Price Performance

ASTE traded up $1.89 during trading on Monday, hitting $37.59. The company's stock had a trading volume of 232,182 shares, compared to its average volume of 224,816. The firm has a market capitalization of $865.62 million, a price-to-earnings ratio of 75.19, a P/E/G ratio of 0.97 and a beta of 1.37. Astec Industries has a twelve month low of $35.05 and a twelve month high of $65.69. The business's fifty day simple moving average is $40.36 and its 200 day simple moving average is $50.38. The company has a current ratio of 2.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its earnings results on Thursday, November 5th. The industrial products company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). Astec Industries had a return on equity of 8.60% and a net margin of 0.74%. The business had revenue of $352.40 million for the quarter, compared to analyst estimates of $375.47 million. During the same period in the previous year, the company earned ($0.18) earnings per share. On average, equities research analysts forecast that Astec Industries will post 3.35 EPS for the current fiscal year.

Astec Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 16th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, November 16th. Astec Industries's payout ratio is presently 104.00%.

Astec Industries Company Profile

Astec Industries, Inc NASDAQ: ASTE designs, engineers and manufactures equipment used in the construction of roads, bridges and other infrastructure. The company serves businesses involved in the production and processing of aggregates, asphalt, concrete and other construction materials.

Its product portfolio includes asphalt plants and related equipment, concrete production systems, aggregate crushing, screening and material-handling equipment, wood-processing equipment, and machinery used in road construction and rehabilitation.

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