Barrington Research Upgrades Astec Industries (ASTE) to Outperform; Mounting Orders and Much More

Barrington Research upgraded Astec Industries (NASDAQ: ASTE) to Outperform. PT $50.

Barrington analyst says, "Our investment thesis has changed following the Q1/11 earnings release. We believe that ASTE is a high quality industrial machinery company with reasonable EPS 2011-2012 growth opportunities in international and energy/mining sectors. We are less concerned about ASTE's exposure to highway spending, which is somewhat dependant on the significantly delayed U.S. Highway Bill. As an industrial cyclical investment, we believe that ASTE has good EPS growth opportunities."

For more ratings news on Astec Industries click here and for the rating history of Astec Industries click here.

Shares of Astec Industries closed at $38.08 yesterday.

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