Astec Industries, Inc. (ASTE) to Post Q3 2017 Earnings of ($0.21) Per Share, Dougherty & Co Forecasts
Astec Industries, Inc. (NASDAQ:ASTE) – Dougherty & Co cut their Q3 2017 earnings per share estimates for Astec Industries in a report issued on Tuesday. Dougherty & Co analyst J. Fisher now forecasts 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 currently 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.
Several other equities analysts have also weighed in on ASTE. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird upgraded Astec Industries from a “neutral” rating to an “outperform” rating and raised their target price for the company from $56.00 to $65.00 in a report on Tuesday. Finally, BidaskClub lowered Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $75.00.
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Shares of Astec Industries (NASDAQ:ASTE) opened at 53.77 on Friday. The stock has a 50 day moving average price of $50.59 and a 200-day moving average price of $55.32. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 25.59 and a beta of 1.11. Astec Industries has a 1-year low of $45.70 and a 1-year high of $73.37.
Astec Industries (NASDAQ:ASTE) last posted its 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). 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 business posted $0.79 EPS. Astec Industries’s quarterly revenue was up 2.5% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System increased its stake in shares of Astec Industries by 1.0% in the first quarter. Arizona State Retirement System now owns 9,966 shares of the industrial products company’s stock worth $613,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund increased its stake in shares of Astec Industries by 0.9% in the second quarter. Texas Permanent School Fund now owns 13,974 shares of the industrial products company’s stock worth $776,000 after purchasing an additional 125 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Astec Industries by 2.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 140 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Astec Industries by 2.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,260 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 150 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Astec Industries by 11.8% in the second quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 198 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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