Analysts Set Astec Industries, Inc. (ASTE) Target Price at $41.00

Astec Industries, Inc. (NASDAQ:ASTE) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $41.00.

Several research firms have weighed in on ASTE. BidaskClub cut Astec Industries from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th. Robert W. Baird increased their price objective on Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st.

ASTE traded up $0.44 during trading hours on Friday, reaching $38.75. The company’s stock had a trading volume of 2,470 shares, compared to its average volume of 201,126. Astec Industries has a 52 week low of $27.86 and a 52 week high of $63.69. The company has a current ratio of 3.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.04. The stock has a market cap of $886.37 million, a PE ratio of 13.24 and a beta of 1.53.



Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Friday, March 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Astec Industries had a positive return on equity of 9.73% and a negative net margin of 5.16%. The business had revenue of $317.00 million for the quarter, compared to analysts’ expectations of $314.98 million. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that Astec Industries will post 3.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 12th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, March 11th. Astec Industries’s payout ratio is 15.07%.

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Astec Industries by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 262,739 shares of the industrial products company’s stock worth $7,931,000 after buying an additional 14,325 shares during the period. Norges Bank bought a new position in Astec Industries during the 4th quarter worth $8,478,000. Public Employees Retirement System of Ohio increased its position in Astec Industries by 18.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock worth $59,000 after buying an additional 297 shares during the period. Covington Capital Management bought a new position in Astec Industries during the 4th quarter worth $32,000. Finally, Thrivent Financial for Lutherans increased its position in Astec Industries by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 16,092 shares of the industrial products company’s stock worth $486,000 after buying an additional 353 shares during the period. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.

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