DOA highway bill weighs on Astec (ASTE)

Posted in General 
July 7th, 2009

Astec Industries Inc. (Nasdaq: ASTE) shares are down 7 percent to less than $25 on more than twice average daily volume after the company’s shares were downgraded to Market Perform from Outperform by Barrington Research this morning.

The firm believes that a federal highway spending bill will not become law, and will not revive spending on highway machinery that is in decline. — Mike Tarsala

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