The stock of Astec Industries, Inc. (NASDAQ:ASTE) hit a new 52-week high and has $71.32 target or 6.00% above today’s $67.28 share price. The 6 months bullish chart indicates low risk for the $1.59 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $71.32 price target is reached, the company will be worth $95.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 125,809 shares traded hands. Astec Industries, Inc. (NASDAQ:ASTE) has risen 47.20% since April 25, 2016 and is uptrending. It has outperformed by 41.18% the S&P500.
Analysts await Astec Industries, Inc. (NASDAQ:ASTE) to report earnings on February, 28. They expect $0.54 EPS, up 237.50% or $0.38 from last year’s $0.16 per share. ASTE’s profit will be $12.76M for 31.15 P/E if the $0.54 EPS becomes a reality. After $0.30 actual EPS reported by Astec Industries, Inc. for the previous quarter, Wall Street now forecasts 80.00% EPS growth.
Astec Industries, Inc. (NASDAQ:ASTE) Ratings Coverage
Out of 6 analysts covering Astec Industries (NASDAQ:ASTE), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. $60 is the highest target while $33 is the lowest. The $46 average target is -31.63% below today’s ($67.28) stock price. Astec Industries has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Robert W. Baird on Tuesday, July 19 to “Underweight”. The company was upgraded on Monday, September 28 by Global Hunter Securities. Seaport Global downgraded the shares of ASTE in a report on Wednesday, July 6 to “Neutral” rating. Maxim Group maintained the shares of ASTE in a report on Monday, May 16 with “Buy” rating. The stock of Astec Industries, Inc. (NASDAQ:ASTE) earned “Buy” rating by Stifel Nicolaus on Monday, August 31. The rating was maintained by Maxim Group on Tuesday, October 20 with “Buy”.
According to Zacks Investment Research, “Astec Industries Inc. designs, engineers, manufactures, markets, and finances equipment and components used primarily in road building and related construction activities. The company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. In addition, the company is partner in a joint venture that makes testing and sampling equipment for the asphalt mix and aggregate processing industries.”
Insitutional Activity: The institutional sentiment decreased to 1.32 in Q2 2016. Its down 0.35, from 1.67 in 2016Q1. The ratio is negative, as 11 funds sold all Astec Industries, Inc. shares owned while 37 reduced positions. 28 funds bought stakes while 52 increased positions. They now own 17.27 million shares or 6.53% less from 18.48 million shares in 2016Q1.
Morgan Stanley has invested 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE). Kennedy Cap Inc holds 0.28% or 247,058 shares in its portfolio. The Connecticut-based Axiom Intl Invsts Ltd Liability Corporation De has invested 0.08% in Astec Industries, Inc. (NASDAQ:ASTE). California Public Employees Retirement Systems last reported 0% of its portfolio in the stock. Millennium Management Limited Liability Corp owns 76,587 shares or 0.01% of their US portfolio. Voya Limited Liability Corp has 9,121 shares for 0% of their US portfolio. Moreover, National Bank Of New York Mellon Corp has 0.01% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 632,413 shares. Cortina Asset Mngmt Llc owns 146,429 shares or 0.37% of their US portfolio. Moreover, Friess Assoc Ltd Co has 0.29% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 50,000 shares. Moreover, Swiss Comml Bank has 0% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 29,800 shares. Longbow Cap Partners Limited Partnership accumulated 8,708 shares or 10.9% of the stock. New York State Common Retirement Fund holds 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE) for 50,000 shares. Capstone Asset Mngmt last reported 0.01% of its portfolio in the stock. Legal General Public Ltd Com holds 18,660 shares or 0% of its portfolio. Rhumbline Advisers has 28,974 shares for 0% of their US portfolio.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 6 sales for $1.18 million net activity. On Wednesday, November 9 Irvine John J. III sold $207,773 worth of the stock or 3,221 shares. Shares for $123,235 were sold by Kruger Tommie on Thursday, November 10. $64,538 worth of Astec Industries, Inc. (NASDAQ:ASTE) was sold by Silvious David C. $64,831 worth of Astec Industries, Inc. (NASDAQ:ASTE) was sold by ANDERSON STEPHEN C on Monday, August 1. SMITH W NORMAN also sold $602,180 worth of Astec Industries, Inc. (NASDAQ:ASTE) shares. 1,987 shares with value of $119,677 were sold by Claude Steven L on Friday, July 29.
More notable recent Astec Industries, Inc. (NASDAQ:ASTE) news were published by: Marketwatch.com which released: “Astec Industries downgraded neutral from outperform at RW Baird” on December 22, 2009, also Quotes.Wsj.com with their article: “News Astec Industries Inc.ASTE” published on February 12, 2011, Globenewswire.com published: “Astec Industries, Inc. to Acquire Power Flame” on July 07, 2016. More interesting news about Astec Industries, Inc. (NASDAQ:ASTE) were released by: Forbes.com and their article: “Ex-Dividend Reminder: Yadkin Financial, International Business Machines and …” published on November 04, 2016 as well as Nasdaq.com‘s news article titled: “Astec Industries, Inc. (ASTE) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016.
ASTE Company Profile
Astec Industries, Inc., incorporated on August 9, 1972, designs, engineers, makes and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. The Firm also makes certain equipment and components unrelated to road construction, including equipment for the mining, quarrying, construction and demolition industries, and port and rail yard operators; gas and oil drilling rigs; water well and geothermal drilling rigs; industrial heat transfer equipment; whole-tree pulpwood chippers; horizontal grinders, and blower trucks. The Firm also makes a line of multiple use plants for cement treated base, roller compacted concrete and ready-mix concrete. The Company’s business divisions are Infrastructure Group, Aggregate and Mining Group and Energy Group.
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