Robert W. Baird Keeps Their Buy Rating on Astec (ASTE)

In a report released yesterday, Mircea Dobre from Robert W. Baird maintained a Buy rating on Astec (ASTEResearch Report), with a price target of $90.00. The company’s shares closed last Thursday at $68.94, close to its 52-week high of $70.09.

According to TipRanks.com, Dobre is a 5-star analyst with an average return of 22.1% and a 63.1% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as Mayville Engineering Company, Lincoln Electric Holdings, and John Bean Technologies.

Astec has an analyst consensus of Moderate Buy, with a price target consensus of $72.00.

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Astec’s market cap is currently $1.58B and has a P/E ratio of 106.90. The company has a Price to Book ratio of 2.53.

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Astec Industries, Inc. designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities as well as other products. It operates through the following segments: Infrastructure Group; Aggregate and Mining Group; Energy Group; and Corporate. The Infrastructure Group segment designs, engineers, manufactures, and markets a line of asphalt plants and their related components, asphalt pavers, screeds, milling machines, material transfer vehicles, stabilizers and related ancillary equipment. The Aggregate and Mining Group segment focuses on designing and manufacturing heavy processing equipment, as well as servicing and supplying parts for the aggregate, metallic mining, recycling, ports and bulk handling markets. The Energy Group segment supplies heavy equipment such as heaters, drilling rigs, concrete plants, wood chippers and grinders, pump trailers, storage equipment and related parts to the oil and gas, construction, and water well industries, as well as commercial and industrial burners used in commercial, industrial and process heating applications. The company was founded by J. Don Brock on August 9, 1972 and is headquartered in Chattanooga, TN.