Brokerages expect that Astec Industries, Inc. (NASDAQ:ASTE) will report sales of $305.08 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Astec Industries’ earnings, with the lowest sales estimate coming in at $295.30 million and the highest estimate coming in at $311.85 million. Astec Industries posted sales of $272.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The company is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, July 23rd.
According to Zacks, analysts expect that Astec Industries will report full year sales of $1.22 billion for the current year, with estimates ranging from $1.20 billion to $1.25 billion. For the next year, analysts anticipate that the firm will post sales of $1.23 billion, with estimates ranging from $1.21 billion to $1.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Astec Industries.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.19). The business had revenue of $325.78 million during the quarter, compared to the consensus estimate of $338.68 million. Astec Industries had a positive return on equity of 9.53% and a negative net margin of 5.67%. Astec Industries’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share.
A number of brokerages have recently weighed in on ASTE. ValuEngine lowered Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. BidaskClub lowered ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.00.
Shares of ASTE stock traded up $1.00 during trading hours on Friday, reaching $30.77. The company’s stock had a trading volume of 247,300 shares, compared to its average volume of 142,090. The company has a market capitalization of $670.74 million, a PE ratio of 10.54 and a beta of 1.47. Astec Industries has a one year low of $27.86 and a one year high of $62.06. The business’s fifty day moving average is $30.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 1.10.
In other news, insider Jaco Van Der Merwe bought 2,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $32.75 per share, for a total transaction of $65,500.00. Following the purchase, the insider now directly owns 4,579 shares in the company, valued at approximately $149,962.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ASTE. Covington Capital Management purchased a new position in Astec Industries during the fourth quarter valued at $32,000. Two Sigma Investments LP increased its holdings in shares of Astec Industries by 251.2% in the 4th quarter. Two Sigma Investments LP now owns 90,211 shares of the industrial products company’s stock worth $2,723,000 after purchasing an additional 64,525 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Astec Industries by 288.6% in the 4th quarter. California Public Employees Retirement System now owns 178,943 shares of the industrial products company’s stock worth $5,402,000 after purchasing an additional 132,899 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Astec Industries in the 4th quarter worth $564,000. Finally, Bessemer Group Inc. bought a new stake in shares of Astec Industries in the 4th quarter worth $54,000. Institutional investors own 92.86% of the company’s stock.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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