Astec Industries (ASTE) is Downgraded by Robert W. Baird to Neutral, Price Target at $55

Astec Industries (ASTE) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $55. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Jul 19, 2016.

Many Wall Street Analysts have commented on Astec Industries. Astec Industries was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 12, 2016. Seaport Global Securities Downgraded Astec Industries on Jul 6, 2016 to ” Neutral”, Price Target of the shares are set at $52.Company shares were Reiterated by Stifel on May 17, 2016 to “Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $50 .

On the company’s financial health, Astec Industries reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.71. The company had revenue of $278.72 million for the quarter, compared to analysts expectations of $305.49 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.65 EPS.

Astec Industries opened for trading at $57.36 and hit $58.15 on the upside on Monday, eventually ending the session at $57.67, with a gain of 0.09% or 0.05 points. The heightened volatility saw the trading volume jump to 97,564 shares. Company has a market cap of $1,329 M.

In a different news, on May 26, 2016, Richard A Patek (Group Pres Aggregate & Mining) sold 1,769 shares at $53.07 per share price. According to the SEC, on May 19, 2016, Robin A Leffew (Corporate Controller) sold 404 shares at $52.00 per share price. On May 16, 2016, Jeffrey L May (President-KPI) sold 800 shares at $50.09 per share price, according to the Form-4 filing with the securities and exchange commission.

Astec Industries Inc. designs engineers manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in road building from quarrying and crushing the aggregate to application of the road surface. The Company manufactures certain equipment and components unrelated to road construction including equipment for the mining quarrying construction and demolition industries and port and rail yard operators; gas and oil drilling rigs; water well and geothermal drilling rigs; industrial heat transfer equipment; whole-tree pulpwood chippers; horizontal grinders and blower trucks. It also manufactures multiple use plants for cement treated base roller compacted concrete and ready-mix concrete. The Company’s business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.

Astec Industries

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