Astec Industries (NASDAQ:ASTE) Downgraded to Strong Sell Rating by Zacks Research

Astec Industries (NASDAQ:ASTE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Longbow Research upgraded shares of Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Freedom Capital upgraded shares of Astec Industries to a “strong-buy” rating in a report on Wednesday, April 1st. Weiss Ratings lowered shares of Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Astec Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Astec Industries has a consensus rating of “Moderate Buy”.

Astec Industries Stock Performance

NASDAQ:ASTE opened at $51.07 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 1.27 and a beta of 1.47. Astec Industries has a fifty-two week low of $36.43 and a fifty-two week high of $65.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.00 and a current ratio of 2.34. The business has a 50 day moving average price of $54.74 and a 200-day moving average price of $51.54.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.34). Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. The company had revenue of $396.30 million for the quarter, compared to analysts’ expectations of $393.24 million. Equities research analysts predict that Astec Industries will post 3.63 earnings per share for the current year.

Insiders Place Their Bets

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the completion of the sale, the insider owned 8,828 shares in the company, valued at approximately $539,125.96. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Astec Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. iSAM Funds UK Ltd purchased a new stake in Astec Industries in the 3rd quarter worth approximately $50,000. Farther Finance Advisors LLC lifted its holdings in Astec Industries by 8,994.1% in the 4th 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 period. Tower Research Capital LLC TRC raised its position in shares of Astec Industries by 412.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 1,780 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Astec Industries in the 3rd quarter worth approximately $136,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Astec Industries in the 4th quarter worth approximately $127,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

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.