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

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

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

Astec Industries Trading Down 1.0 %

NASDAQ:ASTE opened at $32.99 on Wednesday. The firm has a market capitalization of $752.24 million, a P/E ratio of -412.32 and a beta of 1.31. The business has a 50 day simple moving average of $34.32 and a 200 day simple moving average of $33.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. Astec Industries has a 12-month low of $28.46 and a 12-month high of $44.74.

Hedge Funds Weigh In On Astec Industries

Several hedge funds have recently made changes to their positions in ASTE. The Manufacturers Life Insurance Company grew its holdings in shares of Astec Industries by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,912 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 315 shares during the last quarter. GAMMA Investing LLC lifted its stake in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after buying an additional 458 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Astec Industries by 802.5% in the fourth quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 650 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of Astec Industries in the 4th quarter valued at approximately $34,000. Finally, Invesco Ltd. lifted its position in shares of Astec Industries by 0.3% in the 4th quarter. Invesco Ltd. now owns 381,598 shares of the industrial products company’s stock valued at $12,822,000 after acquiring an additional 1,243 shares in the last quarter. Institutional investors and hedge funds 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.