Astec Industries Inc. (ASTE) Receives $53.17 Consensus Price Target from Brokerages
Shares of Astec Industries Inc. (NASDAQ:ASTE) have earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm. Six analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $53.17.
A number of brokerages have recently commented on ASTE. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Maxim Group increased their price objective on Astec Industries from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Stifel Nicolaus increased their price objective on Astec Industries from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a research report on Tuesday, July 12th.
In other news, CFO David C. Silvious sold 1,076 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $59.98, for a total value of $64,538.48. Following the transaction, the chief financial officer now directly owns 1,070 shares of the company’s stock, valued at $64,178.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman W Norman Smith sold 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $60.22, for a total transaction of $602,200.00. Following the completion of the transaction, the insider now directly owns 9,390 shares in the company, valued at $565,465.80. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Loomis Sayles & Co. L P bought a new position in Astec Industries during the first quarter worth $15,133,000. Alliancebernstein L.P. increased its position in Astec Industries by 582.1% in the second quarter. Alliancebernstein L.P. now owns 207,548 shares of the company’s stock worth $11,654,000 after buying an additional 177,119 shares during the period. Columbus Circle Investors bought a new position in Astec Industries during the second quarter worth $9,045,000. Bank of Montreal Can bought a new position in Astec Industries during the second quarter worth $7,833,000. Finally, Rainier Investment Management LLC increased its position in Astec Industries by 205.9% in the second quarter. Rainier Investment Management LLC now owns 117,320 shares of the company’s stock worth $6,588,000 after buying an additional 78,970 shares during the period. 79.16% of the stock is currently owned by institutional investors and hedge funds.
Astec Industries (NASDAQ:ASTE) opened at 58.89 on Thursday. Astec Industries has a one year low of $30.76 and a one year high of $62.75. The company has a 50-day moving average price of $58.16 and a 200-day moving average price of $54.57. The firm has a market cap of $1.36 billion, a PE ratio of 32.54 and a beta of 1.26.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Astec Industries had a return on equity of 6.72% and a net margin of 4.18%. The company earned $294.40 million during the quarter, compared to the consensus estimate of $283.44 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts predict that Astec Industries will post $2.40 earnings per share for the current fiscal year.
About Astec Industries
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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