Could Astec Industries, Inc. (ASTE) See a Reversal After Having Formed Several Months Double Top Chart Pattern

June 14, 2018 - By Dolores Ford

Astec Industries, Inc. (NASDAQ:ASTE) Logo

Investors sentiment decreased to 1.09 in 2018 Q1. Its down 0.25, from 1.34 in 2017Q4. It fall, as 21 investors sold Astec Industries, Inc. shares while 49 reduced holdings. 25 funds opened positions while 51 raised stakes. 20.60 million shares or 2.39% more from 20.12 million shares in 2017Q4 were reported.
Cortina Asset Management Llc holds 134,586 shares. The Minnesota-based Ameriprise Inc has invested 0% in Astec Industries, Inc. (NASDAQ:ASTE). Franklin Res reported 1.78M shares. Manufacturers Life Insurance The holds 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE) for 15,706 shares. Price T Rowe Md reported 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE). Confluence Inv Mgmt Ltd Liability reported 0.08% in Astec Industries, Inc. (NASDAQ:ASTE). State Teachers Retirement stated it has 61,868 shares or 0.01% of all its holdings. State Street accumulated 518,145 shares. The Wisconsin-based Heartland Advsr has invested 0.61% in Astec Industries, Inc. (NASDAQ:ASTE). Kennedy Capital invested in 0.41% or 384,758 shares. Deutsche Bancorp Ag stated it has 0% in Astec Industries, Inc. (NASDAQ:ASTE). Federated Investors Pa has 43,508 shares. Pnc Fincl Svcs Group Inc holds 0% or 1,186 shares. 194,345 are held by Penn Cap Mngmt. Pub Sector Pension Board invested in 0% or 12,094 shares.

Since May 1, 2018, it had 0 insider purchases, and 2 insider sales for $3.19 million activity.

The chart of Astec Industries, Inc. (ASTE) shows a double top with $65.53 target or 9.00 % above today’s $60.12 share price. The 9 months chart pattern indicates low risk for the $1.39B company. It was reported on Jun, 14 by Finviz.com. If the $65.53 price target is reached, the company will be worth $124.92 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.33% or $0.2 during the last trading session, reaching $60.12. About 36,934 shares traded. Astec Industries, Inc. (NASDAQ:ASTE) has risen 3.63% since June 14, 2017 and is uptrending. It has underperformed by 8.94% the S&P500.

Analysts await Astec Industries, Inc. (NASDAQ:ASTE) to report earnings on July, 24. They expect $0.93 EPS, up 50.00 % or $0.31 from last year’s $0.62 per share. ASTE’s profit will be $21.47M for 16.16 P/E if the $0.93 EPS becomes a reality. After $0.87 actual EPS reported by Astec Industries, Inc. for the previous quarter, Wall Street now forecasts 6.90 % EPS growth.

Astec Industries, Inc. (NASDAQ:ASTE) Ratings Coverage

Among 5 analysts covering Astec Industries (NASDAQ:ASTE), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Astec Industries has $70.0 highest and $6400 lowest target. $64.50’s average target is 7.29% above currents $60.12 stock price. Astec Industries had 7 analyst reports since January 2, 2018 according to SRatingsIntel. As per Tuesday, January 23, the company rating was maintained by Seaport Global. The company was maintained on Friday, April 13 by Robert W. Baird. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, April 24. The company was upgraded on Wednesday, February 21 by Dougherty. The stock of Astec Industries, Inc. (NASDAQ:ASTE) has “Buy” rating given on Thursday, January 4 by Robert W. Baird. The rating was upgraded by William Blair on Tuesday, January 2 to “Outperform”. As per Tuesday, February 13, the company rating was maintained by William Blair.

More news for Astec Industries, Inc. (NASDAQ:ASTE) were recently published by: Nasdaq.com, which released: “New Research Coverage Highlights Astec Industries, Prothena Corporation plc, Kornit Digital, Limoneira, Shenandoah …” on June 05, 2018. Nasdaq.com‘s article titled: “Astec Industries, Inc. to Attend 2018 Stifel Cross Sector Insight Conference” and published on June 07, 2018 is yet another important article.

Astec Industries, Inc. designs, engineers, makes, and markets equipment and components primarily for the road building, aggregate processing, geothermal, water, gas and oil, and wood processing industries in the United States and internationally. The company has market cap of $1.39 billion. The Company’s Infrastructure Group segment offers asphalt and wood pellet plants, and related components; asphalt pavers, screeds, milling machines, material transfer vehicles, stabilizers, and related ancillary equipment; and commercial pavers. It has a 36.88 P/E ratio. The company's Aggregate and Mining Group segment provides aggregate processing and mining equipment; crushers, portable plants, sand classifying and washing equipment, and conveying equipment; mobile screening plants, portable and stationary structures, and vibrating screens; aggregate and ore processing equipment; rock breaking systems, processing equipment, and utility vehicles; and bulk material handling systems and minerals processing equipment.

Astec Industries, Inc. (NASDAQ:ASTE) Institutional Positions Chart

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