The stock of Astec Industries, Inc. (NASDAQ:ASTE) reached all time high today, Nov, 28 and still has $72.92 target or 7.00% above today’s $68.15 share price. This indicates more upside for the $1.61 billion company. This technical setup was reported by Barchart.com. If the $72.92 PT is reached, the company will be worth $112.70M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 33,518 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 $12.76 million for 31.55 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 -32.50% below today’s ($68.15) stock price. Astec Industries has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Underweight” rating given by Robert W. Baird on Tuesday, July 19. As per Monday, May 16, the company rating was maintained by Maxim Group. Stifel Nicolaus upgraded Astec Industries, Inc. (NASDAQ:ASTE) rating on Monday, August 31. Stifel Nicolaus has “Buy” rating and $50 price target. Seaport Global downgraded the shares of ASTE in a report on Wednesday, July 6 to “Neutral” rating. The rating was maintained by Maxim Group with “Buy” on Tuesday, October 20. The stock of Astec Industries, Inc. (NASDAQ:ASTE) earned “Accumulate” rating by Global Hunter Securities on Monday, September 28.
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 2016 Q2. Its down 0.35, from 1.67 in 2016Q1. The ratio dived, 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.
Cupps Mgmt accumulated 0.6% or 41,150 shares. Loomis Sayles Limited Partnership last reported 326,636 shares in the company. State Of Tennessee Treasury Department reported 15,055 shares or 0% of all its holdings. Ls Invest Advsr Ltd Com accumulated 710 shares or 0% of the stock. Geode Limited Com holds 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE) for 137,881 shares. Comml Bank Of New York Mellon Corp accumulated 0.01% or 632,413 shares. New York State Teachers Retirement accumulated 0.01% or 73,668 shares. New Jersey Better Educational Savings holds 0.64% or 17,000 shares in its portfolio. Jpmorgan Chase & Company accumulated 0% or 162 shares. The Massachusetts-based State Street has invested 0% in Astec Industries, Inc. (NASDAQ:ASTE). Voya Lc has 0% invested in the company for 9,121 shares. Gotham Asset Ltd Com reported 15,798 shares or 0.01% of all its holdings. Bnp Paribas Arbitrage, a New York-based fund reported 6,178 shares. Moreover, Capital Fund Mgmt Sa has 0% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 4,300 shares. Deutsche Natl Bank Ag accumulated 0% or 23,256 shares.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 6 selling transactions for $1.18 million net activity. Irvine John J. III also sold $207,773 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Wednesday, November 9. 1,070 Astec Industries, Inc. (NASDAQ:ASTE) shares with value of $64,831 were sold by ANDERSON STEPHEN C. Kruger Tommie also sold $123,235 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Thursday, November 10. The insider Silvious David C sold 1,076 shares worth $64,538. SMITH W NORMAN sold $602,180 worth of stock. $119,677 worth of Astec Industries, Inc. (NASDAQ:ASTE) shares were sold by Claude Steven L.
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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