Astec Industries (NASDAQ:ASTE) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, Robert W. Baird upped their target price on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Astec Industries Stock Down 2.3 %

ASTE stock opened at $32.73 on Thursday. The firm’s 50-day moving average is $33.74 and its two-hundred day moving average is $33.62. The company has a market capitalization of $746.24 million, a price-to-earnings ratio of -409.07 and a beta of 1.31. Astec Industries has a 52 week low of $28.46 and a 52 week high of $44.74. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Astec Industries

Several hedge funds and other institutional investors have recently bought and sold shares of ASTE. Sterling Capital Management LLC boosted its position in shares of Astec Industries by 802.5% during the 4th quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 650 shares in the last quarter. Tompkins Financial Corp acquired a new stake in Astec Industries during the fourth quarter valued at approximately $34,000. R Squared Ltd bought a new stake in Astec Industries during the fourth quarter worth approximately $42,000. Point72 Asset Management L.P. acquired a new position in Astec Industries in the third quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Astec Industries in the third quarter worth approximately $49,000. 93.16% of the stock is currently owned by 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.