Astec Industries (NASDAQ:ASTE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Astec Industries (NASDAQ:ASTE) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Robert W. Baird increased their price target 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 1.5 %

Shares of NASDAQ:ASTE opened at $33.31 on Wednesday. The business’s 50 day moving average is $34.43 and its 200 day moving average is $33.66. The stock has a market cap of $759.47 million, a P/E ratio of -416.32 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 quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Astec Industries

Several hedge funds have recently modified their holdings of ASTE. Tompkins Financial Corp bought a new position in Astec Industries in the fourth quarter worth approximately $34,000. GAMMA Investing LLC increased its holdings in shares of Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 458 shares during the period. R Squared Ltd bought a new position in shares of Astec Industries in the 4th quarter worth $42,000. Point72 Asset Management L.P. purchased a new stake in shares of Astec Industries during the 3rd quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Astec Industries during the third quarter valued at about $49,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

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.