Astec Industries (NASDAQ:ASTE) Given New $52.00 Price Target at Freedom Broker

Astec Industries (NASDAQ:ASTE) had its target price cut by equities research analysts at Freedom Broker from $60.00 to $52.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Freedom Broker‘s price objective would indicate a potential upside of 36.45% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Astec Industries presently has a consensus rating of “Buy” and an average price target of $52.00.

Astec Industries Price Performance

Shares of NASDAQ ASTE traded up $2.40 during trading hours on Monday, hitting $38.11. 137,491 shares of the stock were exchanged, compared to its average volume of 224,628. The company’s fifty day simple moving average is $40.36 and its two-hundred day simple moving average is $50.38. The company has a market cap of $877.48 million, a PE ratio of 76.22, a price-to-earnings-growth ratio of 0.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.97 and a current ratio of 2.31. Astec Industries has a 1-year low of $35.05 and a 1-year high of $65.69.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Thursday, November 5th. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). Astec Industries had a net margin of 0.74% and a return on equity of 8.60%. The firm had revenue of $352.40 million for the quarter, compared to analyst estimates of $375.47 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, sell-side analysts predict that Astec Industries will post 3.35 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASTE. Allworth Financial LP bought a new stake in Astec Industries during the 2nd quarter worth $25,000. Nykredit A S acquired a new position in Astec Industries in the 2nd quarter worth about $25,000. Fortitude Family Office LLC raised its position in Astec Industries by 1,128.8% in the third quarter. Fortitude Family Office LLC now owns 639 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 587 shares during the last quarter. Parallel Advisors LLC raised its position in Astec Industries by 988.4% in the third quarter. Parallel Advisors LLC now owns 751 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 682 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Astec Industries in the second quarter valued at about $44,000. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Company Profile

Astec Industries, Inc (NASDAQ: ASTE) designs, engineers and manufactures equipment used in the construction of roads, bridges and other infrastructure. The company serves businesses involved in the production and processing of aggregates, asphalt, concrete and other construction materials.

Its product portfolio includes asphalt plants and related equipment, concrete production systems, aggregate crushing, screening and material-handling equipment, wood-processing equipment, and machinery used in road construction and rehabilitation.