Astec Industries, Inc. (ASTE) Posts Earnings Results
Astec Industries, Inc. (NASDAQ:ASTE) released its quarterly earnings results on Tuesday. The industrial products company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02), Bloomberg Earnings reports. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The company had revenue of $252.10 million for the quarter, compared to the consensus estimate of $261.06 million. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year.
Astec Industries (NASDAQ ASTE) opened at 50.17 on Wednesday. The firm has a market capitalization of $1.16 billion, a PE ratio of 23.88 and a beta of 1.11. The company’s 50-day moving average is $52.15 and its 200 day moving average is $54.38. Astec Industries has a 1-year low of $45.70 and a 1-year high of $73.37.
A number of analysts recently commented on ASTE shares. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Dougherty & Co downgraded shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, July 26th. Finally, Robert W. Baird raised shares of Astec Industries from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $65.00 in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.00.
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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