Astec Industries upgraded by Sidoti with a new price target
$ASTE
Construction/Ag Equipment/Trucks
Industrials
Sidoti upgraded Astec Industries from Neutral to Buy and set a new price target of $82.00 from $65.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/2/2024 | $47.00 → $37.00 | Buy → Hold | Stifel |
| 4/8/2022 | $40.00 | Outperform → Neutral | Robert W. Baird |
| 11/8/2021 | $65.00 → $82.00 | Neutral → Buy | Sidoti |
Right Lane Industries ("Right Lane"), a privately-held industrial-holding company focused on corporate carveouts and other complex transactions, today announced that it has signed an agreement to sell TerraSource Holdings LLC ("TerraSource") to Astec Industries ("Astec") for a purchase price of $245 million. TerraSource, headquartered in Saint Louis, is a leading provider of material handling equipment and related aftermarket parts and services for crushing and separating applications globally. Right Lane acquired a 51% interest in TerraSource from Hillenbrand, Inc. in October, 2021, and worked to enhance the scale, profitability and competitiveness of the company. Right Lane combined an a
First Quarter 2025 Overview (all comparisons are made to the corresponding prior year first quarter unless otherwise specified): Net sales of $329.4 millionStrong net income of $14.3 million; Adjusted net income of $20.3 millionEBITDA of $27.5 million; Adjusted EBITDA of $35.2 millionDiluted EPS of $0.62; Adjusted EPS of $0.88Operating cash flow of $20.5 million; Free cash flow of $16.6 millionEntered definitive purchase agreement to acquire TerraSource Holdings, LLC ("TerraSource") for $245.0 million CHATTANOOGA, Tenn., April 29, 2025 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced today its financial results for the first quarter ended March 31, 2025. "We are
CHATTANOOGA, Tenn., April 28, 2025 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about May 30, 2025, to shareholders of record as of the close of business on May 13, 2025. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate processing
First Quarter 2025 Overview (all comparisons are made to the corresponding prior year first quarter unless otherwise specified): Net sales of $329.4 millionStrong net income of $14.3 million; Adjusted net income of $20.3 millionEBITDA of $27.5 million; Adjusted EBITDA of $35.2 millionDiluted EPS of $0.62; Adjusted EPS of $0.88Operating cash flow of $20.5 million; Free cash flow of $16.6 millionEntered definitive purchase agreement to acquire TerraSource Holdings, LLC ("TerraSource") for $245.0 million CHATTANOOGA, Tenn., April 29, 2025 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced today its financial results for the first quarter ended March 31, 2025. "We are
CHATTANOOGA, Tenn., April 28, 2025 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about May 30, 2025, to shareholders of record as of the close of business on May 13, 2025. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate processing
CHATTANOOGA, Tenn., April 07, 2025 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company's first quarter 2025 financial results. Astec Industries, Inc. will be releasing the company's first quarter results to the wire service on Tuesday, April 29, 2025, at approximately 7:00 a.m. Eastern Time. The live call will begin on Tuesday, April 29, 2025, at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer, Brian Harris, Chief Financial Officer, and Steve Anderson, Senior Vice President of Administration and Investor Relations, will host the call. To access the call, dial (888) 440-41
CHATTANOOGA, Tenn., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or the "Company") today announced the appointment of Brian J. Harris as its Chief Financial Officer, effective immediately. In connection with the appointment of Mr. Harris, Heinrich Jonker will step down from his role as Interim Chief Financial Officer and will continue to serve as Vice President Finance – Infrastructure Solutions of the Company. Mr. Harris previously served as Executive Vice President and Chief Financial Officer of Summit Materials, Inc. (NYSE:SUM) ("Summit"), a leading producer of aggregates and cement, from October 2013 to February 2023. Prior to his role at Summit, Mr.
CHATTANOOGA, Tenn., March 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or the "Company") today announced the appointment of Heinrich Jonker, Vice President Finance – Infrastructure Solutions, as its Chief Financial Officer on an interim basis, effective immediately. Mr. Jonker's appointment follows the decision by Rebecca A. Weyenberg, Chief Financial Officer, to step down from her role as CFO. Mrs. Weyenberg will remain employed by the company on an advisory basis through April 30, 2024, to assist in the transition. Astec's Board of Directors has initiated a search process to identify the Company's next CFO and has retained a nationally recognized search fir
CHATTANOOGA, Tenn., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced the company's board of directors (the "Board") appointed Mr. Patrick S. Shannon and Mr. Jeffrey ("Jeff") T. Jackson, new independent directors, to the Board effective as of January 18, 2024. Mr. William Bradley ("Brad") Southern, an independent director, informed the Board he will be retiring as a member of the Board effective January 18, 2024. With the election of Mr. Shannon and Mr. Jackson, and the retirement of Mr. Southern, the size of the Board increased to 11 directors, 10 of whom are independent directors. Mr. Shannon will also serve as a member of the Audit Committee of the Board a
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Stifel downgraded Astec Industries from Buy to Hold and set a new price target of $37.00 from $47.00 previously
Robert W. Baird downgraded Astec Industries from Outperform to Neutral and set a new price target of $40.00
Sidoti upgraded Astec Industries from Neutral to Buy and set a new price target of $82.00 from $65.00 previously
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