Brokerages expect Astec Industries, Inc. (NASDAQ:ASTE) to post $330.82 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Astec Industries’ earnings, with estimates ranging from $327.17 million to $333.30 million. Astec Industries reported sales of $301.91 million in the same quarter last year, which indicates a positive year over year growth rate of 9.6%. The business is expected to announce its next quarterly earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Astec Industries will report full year sales of $1.34 billion for the current financial year, with estimates ranging from $1.32 billion to $1.34 billion. For the next financial year, analysts anticipate that the business will report sales of $1.36 billion per share, with estimates ranging from $1.35 billion to $1.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Astec Industries.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The firm had revenue of $325.50 million for the quarter, compared to the consensus estimate of $336.32 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. ValuEngine raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Stifel Nicolaus dropped their target price on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, April 25th. Finally, Robert W. Baird reissued a “buy” rating and issued a $64.00 target price on shares of Astec Industries in a research report on Friday, April 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.25.
In other news, CEO Benjamin G. Brock sold 22,439 shares of the business’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $54.71, for a total value of $1,227,637.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Astec Industries by 69.7% in the 1st quarter. Franklin Resources Inc. now owns 1,778,353 shares of the industrial products company’s stock valued at $98,129,000 after buying an additional 730,594 shares during the period. Marcato Capital Management LP acquired a new position in shares of Astec Industries in the 1st quarter valued at about $29,016,000. Ceredex Value Advisors LLC acquired a new position in shares of Astec Industries in the 1st quarter valued at about $6,428,000. Cortina Asset Management LLC acquired a new position in shares of Astec Industries in the 4th quarter valued at about $5,938,000. Finally, Pier Capital LLC acquired a new position in shares of Astec Industries in the 1st quarter valued at about $5,131,000. 91.10% of the stock is owned by institutional investors.
Astec Industries traded up $1.30, hitting $60.92, during midday trading on Thursday, Marketbeat Ratings reports. 156,978 shares of the stock were exchanged, compared to its average volume of 114,701. Astec Industries has a 1 year low of $45.70 and a 1 year high of $64.80. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13.
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 operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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