Astec Industries, Inc. (ASTE) to Post Q1 2018 Earnings of $0.80 Per Share, Griffin Securities Forecasts
Astec Industries, Inc. (NASDAQ:ASTE) – Investment analysts at Griffin Securities dropped their Q1 2018 earnings per share estimates for shares of Astec Industries in a research report issued to clients and investors on Monday. Griffin Securities analyst M. Ajzenman now forecasts that the industrial products company will post earnings of $0.80 per share for the quarter, down from their prior forecast of $0.85. Griffin Securities also issued estimates for Astec Industries’ Q2 2018 earnings at $0.80 EPS, Q4 2018 earnings at $1.00 EPS and FY2018 earnings at $3.20 EPS.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.18). Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The firm had revenue of $301.90 million during the quarter, compared to analyst estimates of $314.31 million. During the same quarter last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis.
A number of other brokerages also recently issued reports on ASTE. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Dougherty & Co cut shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research report on Wednesday, July 26th. Finally, Robert W. Baird upgraded shares of Astec Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $56.00 to $65.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Astec Industries has an average rating of “Hold” and an average price target of $75.00.
Astec Industries (NASDAQ:ASTE) traded down 0.666% during midday trading on Wednesday, hitting $54.465. 12,716 shares of the stock traded hands. Astec Industries has a 52 week low of $45.70 and a 52 week high of $73.37. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 22.884 and a beta of 1.11. The stock’s 50-day moving average price is $50.24 and its 200 day moving average price is $55.34.
A number of institutional investors and hedge funds have recently made changes to their positions in ASTE. Phocas Financial Corp. increased its stake in shares of Astec Industries by 4.8% during the second quarter. Phocas Financial Corp. now owns 168,485 shares of the industrial products company’s stock valued at $9,353,000 after purchasing an additional 7,773 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Astec Industries in the 2nd quarter worth approximately $230,000. Dean Capital Management bought a new stake in shares of Astec Industries in the 2nd quarter worth approximately $2,027,000. Ameritas Investment Partners Inc. boosted its position in shares of Astec Industries by 11.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 198 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Astec Industries by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,482 shares of the industrial products company’s stock worth $915,000 after purchasing an additional 1,414 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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