Astec Industries' Drop Is Painful But Temporary
Astec Industries remains a 'buy' as shares are attractively valued despite recent underperformance and revised guidance. ASTE's growth is driven by acquisitions and strong segment performance, with backlog rising 57.9% to $601.1 million year-over-year. Management targets 6%+ annual revenue growth and 25%+ annual operating cash flow growth through 2030, leveraging infrastructure spending tailwinds.