Astec Industries Inc. (NASDAQ:ASTE)’s share price rose 2.8% on Thursday . The company traded as high as $56.71 and last traded at $56.61, with a volume of 75,580 shares traded. The stock had previously closed at $55.05.

ASTE has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Seaport Global Securities reaffirmed an “accumulate” rating on shares of Astec Industries in a research note on Tuesday, April 12th. Maxim Group upped their price target on shares of Astec Industries from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, May 16th. Finally, Stifel Nicolaus upped their price target on shares of Astec Industries from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, May 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $49.33.

The stock has a market cap of $1.34 billion and a P/E ratio of 37.69. The stock’s 50-day moving average price is $54.71 and its 200-day moving average price is $45.70.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, April 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The company earned $278.70 million during the quarter, compared to the consensus estimate of $302.55 million. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Equities research analysts predict that Astec Industries Inc. will post $2.28 earnings per share for the current year.

In other Astec Industries news, insider Richard A. Patek sold 1,900 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $53.06, for a total value of $100,814.00. Following the sale, the insider now directly owns 1,763 shares in the company, valued at $93,544.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard A. Patek sold 1,769 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $53.07, for a total value of $93,880.83. Following the completion of the sale, the insider now owns 1,763 shares in the company, valued at $93,562.41. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have modified their holdings of ASTE. California State Teachers Retirement System raised its position in shares of Astec Industries by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 35,138 shares of the company’s stock worth $1,430,000 after buying an additional 625 shares during the period. Rhumbline Advisers raised its position in shares of Astec Industries by 2.3% in the fourth quarter. Rhumbline Advisers now owns 32,821 shares of the company’s stock worth $1,336,000 after buying an additional 740 shares during the period. Bank of Montreal Can raised its position in shares of Astec Industries by 4.0% in the fourth quarter. Bank of Montreal Can now owns 234,849 shares of the company’s stock worth $9,559,000 after buying an additional 8,958 shares during the period. Comerica Bank raised its position in shares of Astec Industries by 38.7% in the fourth quarter. Comerica Bank now owns 71,708 shares of the company’s stock worth $2,576,000 after buying an additional 20,015 shares during the period. Finally, Teton Advisors Inc. raised its position in shares of Astec Industries by 6.7% in the fourth quarter. Teton Advisors Inc. now owns 327,560 shares of the company’s stock worth $13,332,000 after buying an additional 20,600 shares during the period.

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.

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