Astec Industries (NASDAQ:ASTE) Rating Lowered to Buy at Wall Street Zen
by Kim Johansen · The Markets DailyAstec Industries (NASDAQ:ASTE – Get Free Report) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.
Separately, Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.
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Astec Industries Stock Up 5.0%
NASDAQ ASTE opened at $57.43 on Friday. Astec Industries has a 12 month low of $29.65 and a 12 month high of $57.88. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.31 billion, a PE ratio of 27.61, a P/E/G ratio of 2.49 and a beta of 1.45. The stock’s 50 day moving average is $47.37 and its 200 day moving average is $46.03.
Institutional Investors Weigh In On Astec Industries
A number of hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of Astec Industries in the 2nd quarter worth about $27,000. iSAM Funds UK Ltd purchased a new position in Astec Industries in the third quarter worth about $50,000. Farther Finance Advisors LLC grew its position in Astec Industries by 8,994.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,529 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Astec Industries by 412.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 1,780 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Astec Industries during the third quarter valued at approximately $136,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.
Astec Industries Company Profile
Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.
Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.