Astec Industries, Inc. to Post Q3 2017 Earnings of ($0.05) Per Share, William Blair Forecasts (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – Equities research analysts at William Blair reduced their Q3 2017 earnings per share (EPS) estimates for shares of Astec Industries in a report issued on Monday. William Blair analyst L. De. Maria now forecasts that the industrial products company will earn ($0.05) per share for the quarter, down from their prior forecast of $0.51. William Blair also issued estimates for Astec Industries’ FY2017 earnings at $1.95 EPS and FY2018 earnings at $2.80 EPS.
ASTE has been the topic of a number of other reports. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Dougherty & Co cut 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 note on Wednesday, July 26th. 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 note on Tuesday. Finally, BidaskClub cut shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Astec Industries currently has an average rating of “Hold” and a consensus price target of $75.00.
Astec Industries (NASDAQ:ASTE) opened at 53.77 on Wednesday. The company has a 50 day moving average price of $50.59 and a 200-day moving average price of $55.32. 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 $1.24 billion, a P/E ratio of 25.59 and a beta of 1.11.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 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 business had revenue of $301.90 million for the quarter, compared to analyst estimates of $314.31 million. During the same quarter in the previous year, the business posted $0.79 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in the stock. Phocas Financial Corp. boosted its position in shares of Astec Industries by 4.8% in the 2nd quarter. Phocas Financial Corp. now owns 168,485 shares of the industrial products company’s stock worth $9,353,000 after buying an additional 7,773 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Astec Industries in the 2nd quarter worth about $230,000. Dean Capital Management purchased a new stake in shares of Astec Industries in the 2nd quarter worth about $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 buying 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 buying 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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