Astec Industries (NASDAQ:ASTE) Stock Rating Lowered by Stifel Nicolaus

Astec Industries (NASDAQ:ASTE) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $37.00 price objective on the industrial products company’s stock, down from their prior price objective of $47.00. Stifel Nicolaus’ target price would suggest a potential upside of 14.27% from the company’s current price.

Separately, StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Monday, March 11th.

Astec Industries Stock Down 2.4 %

Shares of NASDAQ:ASTE traded down $0.78 during mid-day trading on Thursday, hitting $32.38. 459,410 shares of the company traded hands, compared to its average volume of 161,951. The stock has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $37.23. Astec Industries has a 12-month low of $28.97 and a 12-month high of $56.33. The stock has a market cap of $736.32 million, a P/E ratio of 29.71 and a beta of 1.40. The company has a current ratio of 2.51, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.47). Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The firm had revenue of $309.20 million during the quarter, compared to the consensus estimate of $343.27 million. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Astec Industries will post 2.9 earnings per share for the current year.

Hedge Funds Weigh In On Astec Industries

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Astec Industries by 32.0% in the first quarter. GAMMA Investing LLC now owns 1,646 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 399 shares during the period. Financial Engines Advisors L.L.C. raised its holdings in shares of Astec Industries by 8.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 5,749 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 436 shares during the period. Hanson & Doremus Investment Management lifted its stake in Astec Industries by 15.9% in the third quarter. Hanson & Doremus Investment Management now owns 4,363 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 600 shares during the last quarter. Swiss National Bank grew its holdings in Astec Industries by 1.8% during the third quarter. Swiss National Bank now owns 50,000 shares of the industrial products company’s stock valued at $2,356,000 after purchasing an additional 900 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Astec Industries by 22.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,075 shares of the industrial products company’s stock worth $226,000 after buying an additional 1,120 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

About Astec Industries

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.