Investment Analysts’ Recent Ratings Changes for Astec Industries (ASTE)

A number of firms have modified their ratings and price targets on shares of Astec Industries (NASDAQ: ASTE) recently:

  • 1/10/2018 – Astec Industries was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/9/2018 – Astec Industries was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $70.00 price target on the stock. According to Zacks, “The third-quarter 2017 marked the sixth quarter since the passage of a long-term highway bill in the United States and this continues to aid Infrastructure Group’s revenues. The Infrastructure Group’s revenues will benefit from infrastructure rebuild. In the Aggregate & Mining segment, there is pent-up demand for new quarries and the company will benefit as these translates into orders. Energy group continues to experience good order intake for products targeted at the construction industry along with increased order activity for water, oil and gas drilling products. Despite the setback on the Georgia and Arkansas plants, the company remains confident on the outlook for pellet plants. Astec Industries remains committed to improve its part sales volume over the long term, along with competitive part sales and service sales. Acquisitions remain a key piece of Astec’s growth strategy, along with organic growth.”
  • 1/5/2018 – Astec Industries was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 1/2/2018 – Astec Industries was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating.
  • 12/30/2017 – Astec Industries was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 12/12/2017 – Astec Industries was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/4/2017 – Astec Industries was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Despite a healthy backlog, Astec remains cautious for the fourth quarter due to product mix and contract to delivery dates and holiday schedules. Consequently, it expects fourth-quarter 2017 earnings per share to be sequentially lower. The company does not expect any revenues contribution from the Hazelhurst Georgia pellet plant in 2017. Moreover, Astec's performance will be hurt by low oil prices, volatile steel price prices, and economic and political environment in Brazil. The stock has also underperformed the industry in the past year. Despite the setback on the Georgia and Arkansas plants, the company remains confident on the outlook for pellet plants. Astec Industries remains committed to improve its part sales volume over the long term, along with competitive part sales and service sales. Acquisitions remain a key piece of Astec’s growth strategy, along with organic growth.”
  • 12/2/2017 – Astec Industries was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Astec Industries, Inc. (ASTE) traded up $1.28 during mid-day trading on Friday, hitting $61.61. 198,800 shares of the stock traded hands, compared to its average volume of 241,250. Astec Industries, Inc. has a 1 year low of $45.70 and a 1 year high of $73.37. The stock has a market capitalization of $1,420.00, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The firm had revenue of $252.10 million during the quarter, compared to analysts’ expectations of $261.06 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Astec Industries’s revenue was up 1.7% on a year-over-year basis. equities research analysts anticipate that Astec Industries, Inc. will post 1.61 earnings per share for the current year.

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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