Robert W. Baird analyst Mircea Dobre maintained a Buy rating on Astec on Wednesday, setting a price target of $83, which is approximately 35.27% above the present share price of $61.36.
Dobre expects Astec to post earnings per share (EPS) of $0.38 for the third quarter of 2021.
The current consensus among 2 TipRanks analysts is for a Moderate Buy rating of shares in Astec, with an average price target of $82.
The analysts price targets range from a high of $83 to a low of $81.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $284.4 million and a net profit of $10.5 million. The company's market cap is $1.35 billion.
According to TipRanks.com, Robert W. Baird analyst Mircea Dobre is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 23.6% and a 62.65% success rate.
Astec Industries (NASDAQ:ASTE), 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.