Astec at 20 is trading slightly above book value, has no long-term debt and is growing top-line by over 10%. Trading at 7x earnings has always been the low end of the range.Backlog was strong last quarter.I bought in today. We'll see how earnings looks tomorrow.
Took advantage of the market decline to buy more at 23. Prospects look good.Astec's main competitor in asphalt plants, Gencor, is also unbelievably cheap, trading below it's cash value = negative enterprise value.Talk about irrational pessimism.
I agree with you astec is a good place to put money.The company has solid customer base and growing.Could double in the next year .
WOW! what a great quarter. ASTE management team is as good as it gets.