Barrington Research Maintains an 'Outperform' on Astec Industries (ASTE); Cutting Numbers, But Backlog Good

Barrington Research maintains an 'Outperform' on Astec Industries (NASDAQ: ASTE) price target of $40.00 (from $50.00).

Barrington analyst said, "ASTE posted Q2/12 earnings below our expectations and that of the consensus due to lower highway spending...Better highway ordering was evident in the Q2/12 backlog. Domestic sales increased 16% YOY and domestic backlog improved 60% YOY...We are lowering our EPS and price target for 2012. Our 2012 EPS is being lowered to $1.97 from $2.15."

For an analyst ratings summary and ratings history on Astec Industries click here. For more ratings news on Astec Industries click here.

Shares of Astec Industries closed at $27.52 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Enovix Corporation (ENVX) PT Lowered to $5 at BofA Securities
• BofA sees Micron EPS topping $230 by FY30, calls peak fears overblown
• Deutsche Bank Downgrades Workday (WDAY) to Hold