Research Analysts Issue Forecasts for Astec Industries, Inc.’s Q3 2017 Earnings (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – William Blair cut their Q3 2017 earnings per share (EPS) estimates for Astec Industries in a report issued on Monday. William Blair analyst L. De. Maria now expects that the industrial products company will post earnings per share of ($0.05) for the quarter, down from their prior estimate of $0.51. William Blair also issued estimates for Astec Industries’ FY2017 earnings at $1.95 EPS and FY2018 earnings at $2.80 EPS.
Other analysts have also recently issued research reports about the company. Dougherty & Co cut Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research report on Wednesday, July 26th. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird raised Astec Industries from a “neutral” rating to an “outperform” rating and upped their price target for the company from $56.00 to $65.00 in a research report on Tuesday. Finally, BidaskClub downgraded Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Astec Industries currently has a consensus rating of “Hold” and an average target price of $75.00.
Shares of Astec Industries (NASDAQ ASTE) opened at 54.83 on Wednesday. The stock has a market cap of $1.26 billion, a PE ratio of 26.10 and a beta of 1.11. The firm has a 50-day moving average price of $50.24 and a 200 day moving average price of $55.34. Astec Industries has a 12-month low of $45.70 and a 12-month high of $73.37.
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 analysts’ consensus estimates of $0.80 by ($0.18). The business had revenue of $301.90 million during the quarter, compared to analyst estimates of $314.31 million. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Astec Industries by 69,549.4% during the first quarter. BlackRock Inc. now owns 2,317,931 shares of the industrial products company’s stock valued at $142,543,000 after purchasing an additional 2,314,603 shares in the last quarter. Alliancebernstein L.P. increased its stake in Astec Industries by 25.9% in the 2nd quarter. Alliancebernstein L.P. now owns 590,307 shares of the industrial products company’s stock valued at $32,768,000 after buying an additional 121,309 shares during the period. Vanguard Group Inc. increased its stake in Astec Industries by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 1,807,106 shares of the industrial products company’s stock valued at $111,128,000 after buying an additional 109,609 shares during the period. Dimensional Fund Advisors LP increased its stake in Astec Industries by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,591,790 shares of the industrial products company’s stock valued at $88,360,000 after buying an additional 88,543 shares during the period. Finally, Royce & Associates LP increased its stake in Astec Industries by 51.4% in the 2nd quarter. Royce & Associates LP now owns 246,163 shares of the industrial products company’s stock valued at $13,665,000 after buying an additional 83,601 shares during the period. 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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