Equities Analysts Issue Forecasts for Astec Industries, Inc.’s Q3 2017 Earnings (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – Dougherty & Co lowered their Q3 2017 EPS estimates for shares of Astec Industries in a note issued to investors on Tuesday. Dougherty & Co analyst J. Fisher now expects that the industrial products company will post earnings of ($0.21) per share for the quarter, down from their prior forecast of $0.37. Dougherty & Co has a “Neutral” rating and a $85.00 price target on the stock. Dougherty & Co also issued estimates for Astec Industries’ FY2017 earnings at $1.90 EPS and FY2018 earnings at $2.94 EPS.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results 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 net margin of 4.08% and a return on equity of 7.40%. The company had revenue of $301.90 million during the quarter, compared to analyst estimates of $314.31 million. During the same quarter last year, the company posted $0.79 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/equities-analysts-issue-forecasts-for-astec-industries-inc-s-q3-2017-earnings-aste/1614093.html.
A number of other brokerages have also weighed in on ASTE. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Finally, Robert W. Baird upgraded shares of 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 report on Tuesday. 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. Astec Industries currently has an average rating of “Hold” and an average target price of $75.00.
Astec Industries (ASTE) opened at 52.73 on Friday. Astec Industries has a 52 week low of $45.70 and a 52 week high of $73.37. The company has a 50-day moving average of $50.78 and a 200-day moving average of $55.25. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 25.10 and a beta of 1.11.
A number of large investors have recently bought and sold shares of ASTE. BlackRock Inc. raised its holdings in Astec Industries by 69,549.4% during the 1st quarter. BlackRock Inc. now owns 2,317,931 shares of the industrial products company’s stock valued at $142,543,000 after buying an additional 2,314,603 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Astec Industries by 25.9% during 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 last quarter. Vanguard Group Inc. raised its holdings in Astec Industries by 6.5% during 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 last quarter. Dimensional Fund Advisors LP raised its holdings in Astec Industries by 5.9% during 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 last quarter. Finally, Royce & Associates LP raised its holdings in Astec Industries by 51.4% during 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 last quarter. Institutional investors own 78.63% of the company’s stock.
About Astec Industries
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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