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

Astec Industries (NASDAQ:ASTE) was upgraded by analysts at StockNews.com from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Separately, Robert W. Baird upped their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday.

Astec Industries Stock Up 1.2 %

Shares of ASTE stock opened at $35.90 on Friday. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Astec Industries has a twelve month low of $28.46 and a twelve month high of $44.74. The stock has a 50 day moving average of $33.43 and a 200 day moving average of $33.66. The stock has a market cap of $818.66 million, a P/E ratio of -448.73 and a beta of 1.31.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.46. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm had revenue of $359.00 million during the quarter, compared to analyst estimates of $374.10 million.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASTE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astec Industries by 6.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,219 shares of the industrial products company’s stock worth $2,158,000 after acquiring an additional 3,963 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Astec Industries by 33.4% in the fourth quarter. Squarepoint Ops LLC now owns 60,376 shares of the industrial products company’s stock valued at $2,029,000 after purchasing an additional 15,111 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Astec Industries during the fourth quarter worth about $619,000. Two Sigma Investments LP raised its position in shares of Astec Industries by 45.1% during the 4th quarter. Two Sigma Investments LP now owns 31,833 shares of the industrial products company’s stock worth $1,070,000 after purchasing an additional 9,897 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in Astec Industries in the 4th quarter valued at about $201,000. 93.16% of the stock is owned by institutional investors and hedge funds.

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.