Astec Industries (NASDAQ:ASTE) Price Target Raised to $41.00

Astec Industries (NASDAQ:ASTE) had its price target boosted by Robert W. Baird from $40.00 to $41.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s target price points to a potential upside of 15.23% from the stock’s current price.

Separately, StockNews.com lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Astec Industries Price Performance

Shares of ASTE opened at $35.58 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The firm has a 50-day simple moving average of $33.46 and a 200-day simple moving average of $33.67. The company has a market capitalization of $811.30 million, a price-to-earnings ratio of -444.69 and a beta of 1.31.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.46. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company had revenue of $359.00 million during the quarter, compared to analysts’ expectations of $374.10 million.

Hedge Funds Weigh In On Astec Industries

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its holdings in Astec Industries by 802.5% during the fourth quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 650 shares during the period. Tompkins Financial Corp acquired a new position in shares of Astec Industries during the 4th quarter worth $34,000. R Squared Ltd acquired a new position in shares of Astec Industries during the 4th quarter worth $42,000. Point72 Asset Management L.P. purchased a new position in shares of Astec Industries in the 3rd quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Astec Industries in the third quarter valued at about $49,000. 93.16% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.