Astec Industries (NASDAQ:ASTE) Reaches New 1-Year High – Still a Buy?
by Tristan Rich · The Markets DailyAstec Industries, Inc. (NASDAQ:ASTE – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $50.99 and last traded at $50.5140, with a volume of 102889 shares traded. The stock had previously closed at $48.72.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ASTE. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.00.
Get Our Latest Stock Report on ASTE
Astec Industries Stock Performance
The company has a market capitalization of $1.16 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.45. The company’s 50 day moving average is $46.34 and its 200-day moving average is $45.49. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48.
Astec Industries (NASDAQ:ASTE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%. The business had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $336.00 million.
Institutional Investors Weigh In On Astec Industries
A number of institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in shares of Astec Industries during the second quarter valued at $27,000. iSAM Funds UK Ltd bought a new stake in Astec Industries during the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC raised its holdings 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 buying an additional 1,529 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Astec Industries by 412.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after buying an additional 1,780 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Astec Industries in the third quarter worth approximately $136,000. 93.16% of the stock is owned by hedge funds and other institutional investors.
About Astec Industries
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.