Shares of Astec Industries (NASDAQ:ASTE) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $68.00.
ASTE has been the subject of a number of research analyst reports. William Blair raised Astec Industries from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 2nd. BidaskClub lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Seaport Global Securities reaffirmed a “hold” rating on shares of Astec Industries in a report on Tuesday, January 23rd. Dougherty & Co raised Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Wednesday, February 21st. Finally, Zacks Investment Research raised Astec Industries from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, January 9th.
Shares of Astec Industries stock traded down $0.80 on Thursday, reaching $57.16. The company’s stock had a trading volume of 79,848 shares, compared to its average volume of 95,787. The firm has a market cap of $1,318.80, a price-to-earnings ratio of 36.41, a PEG ratio of 1.69 and a beta of 1.13. Astec Industries has a 52 week low of $45.70 and a 52 week high of $66.66.
Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, February 20th. The industrial products company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The business had revenue of $312.38 million during the quarter, compared to the consensus estimate of $288.14 million. Astec Industries had a return on equity of 5.43% and a net margin of 3.19%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. research analysts expect that Astec Industries will post 3.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, March 9th. Astec Industries’s payout ratio is currently 25.32%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Landscape Capital Management L.L.C. bought a new stake in shares of Astec Industries in the fourth quarter worth $365,000. Teacher Retirement System of Texas bought a new stake in shares of Astec Industries in the fourth quarter worth $393,000. UBS Asset Management Americas Inc. lifted its position in 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 purchasing an additional 3,760 shares in the last quarter. National Investment Services Inc. WI purchased a new position in Astec Industries during the fourth quarter valued at $447,000. Finally, Gotham Asset Management LLC purchased a new position in Astec Industries during the fourth quarter valued at $536,000. 93.43% of the stock is owned by institutional investors.
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About Astec Industries
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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