Astec Industries’ (ASTE) Buy Rating Reiterated at Robert W. Baird

Robert W. Baird restated their buy rating on shares of Astec Industries (NASDAQ:ASTE) in a report released on Friday. The firm currently has a $64.00 target price on the industrial products company’s stock.

A number of other research analysts have also recently weighed in on ASTE. BidaskClub upgraded Astec Industries from a hold rating to a buy rating in a research report on Saturday, December 30th. William Blair upgraded Astec Industries from a market perform rating to an outperform rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded Astec Industries from a hold rating to a buy rating and set a $70.00 price target for the company in a research report on Tuesday, January 9th. TheStreet upgraded Astec Industries from a c+ rating to a b- rating in a research report on Friday, January 5th. Finally, Seaport Global Securities restated a hold rating on shares of Astec Industries in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $68.00.

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NASDAQ:ASTE opened at $57.09 on Friday. The firm has a market capitalization of $1,292.28, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. Astec Industries has a 1 year low of $45.70 and a 1 year high of $66.66.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The business had revenue of $312.38 million during the quarter, compared to analysts’ expectations of $288.14 million. Astec Industries had a return on equity of 5.43% and a net margin of 3.19%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. equities analysts expect that Astec Industries will post 3.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, March 9th. Astec Industries’s payout ratio is currently 25.32%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. acquired a new stake in shares of Astec Industries during the fourth quarter valued at $365,000. Teacher Retirement System of Texas acquired a new stake in shares of Astec Industries during the fourth quarter valued at $393,000. UBS Asset Management Americas Inc. boosted its stake in shares of Astec Industries by 100.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 7,492 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 3,760 shares during the last quarter. National Investment Services Inc. WI acquired a new stake in shares of Astec Industries during the fourth quarter valued at $447,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of Astec Industries during the fourth quarter valued at $536,000. 93.43% of the stock is currently owned by institutional investors and hedge funds.

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About Astec Industries

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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