Analysts Anticipate Astec Industries, Inc. (ASTE) Will Post Quarterly Sales of $287.77 Million

Wall Street analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to post sales of $287.77 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Astec Industries’ earnings, with estimates ranging from $284.55 million to $293.00 million. Astec Industries posted sales of $326.56 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 11.9%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, February 20th.

According to Zacks, analysts expect that Astec Industries will report full year sales of $287.77 million for the current financial year, with estimates ranging from $1.16 billion to $1.17 billion. For the next year, analysts expect that the firm will report sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.32 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Astec Industries.

A number of brokerages have weighed in on ASTE. TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a research note on Friday, January 5th. William Blair reissued a “buy” rating on shares of Astec Industries in a research report on Tuesday, February 13th. Zacks Investment Research raised shares of Astec Industries from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, January 9th. BidaskClub downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Astec Industries in a report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $73.33.

Shares of Astec Industries (NASDAQ ASTE) traded up $1.20 on Friday, reaching $61.61. 221,981 shares of the company’s stock were exchanged, compared to its average volume of 168,903. The stock has a market cap of $1,421.34, a price-to-earnings ratio of 36.67, a PEG ratio of 1.98 and a beta of 1.06. Astec Industries has a 1-year low of $45.70 and a 1-year high of $73.37.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Astec Industries by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 582,861 shares of the industrial products company’s stock worth $32,645,000 after buying an additional 28,977 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Astec Industries by 21.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,274,239 shares of the industrial products company’s stock worth $71,370,000 after buying an additional 221,167 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Astec Industries by 83.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,675 shares of the industrial products company’s stock worth $371,000 after buying an additional 3,044 shares during the period. American Century Companies Inc. boosted its holdings in Astec Industries by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 98,578 shares of the industrial products company’s stock worth $5,521,000 after buying an additional 2,766 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Astec Industries by 61.5% in the 3rd quarter. Wells Fargo & Company MN now owns 47,368 shares of the industrial products company’s stock worth $2,653,000 after buying an additional 18,031 shares during the period. 80.17% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This story was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://stocknewstimes.com/2018/02/18/analysts-anticipate-astec-industries-inc-aste-will-post-quarterly-sales-of-287-77-million.html.

About Astec Industries

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.

Get a free copy of the Zacks research report on Astec Industries (ASTE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply