William Blair Analysts Cut Earnings Estimates for Astec Industries, Inc. (ASTE)
Astec Industries, Inc. (NASDAQ:ASTE) – William Blair lowered their Q3 2017 earnings estimates for 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 previous 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.
Several other brokerages also recently commented on ASTE. BidaskClub downgraded Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird raised Astec Industries from a “neutral” rating to an “outperform” rating and upped their target price for the company from $56.00 to $65.00 in a report on Tuesday. Finally, Dougherty & Co downgraded Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Astec Industries currently has a consensus rating of “Hold” and a consensus price target of $75.00.
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Shares of Astec Industries (NASDAQ ASTE) opened at 54.06 on Wednesday. Astec Industries has a 52-week low of $45.70 and a 52-week high of $73.37. The stock has a market cap of $1.25 billion, a PE ratio of 22.71 and a beta of 1.11. The company’s 50-day moving average price is $50.42 and its 200-day moving average price is $55.33.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). The company had revenue of $301.90 million for the quarter, compared to analysts’ expectations of $314.31 million. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in ASTE. Ameritas Investment Partners Inc. purchased a new stake in shares of Astec Industries during the first quarter valued at $103,000. Victory Capital Management Inc. lifted its stake in Astec Industries by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,938 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 289 shares in the last quarter. Quantbot Technologies LP lifted its stake in Astec Industries by 110.2% in the 1st quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 1,144 shares in the last quarter. SG Americas Securities LLC lifted its stake in Astec Industries by 80.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,266 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 1,459 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Astec Industries by 78.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,760 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 1,650 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.
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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