Astec Industries Inc. (ASTE) Hits New 12-Month High at $58.57
Shares of Astec Industries Inc. (NASDAQ:ASTE) reached a new 52-week high during trading on Friday . The company traded as high as $58.57 and last traded at $58.46, with a volume of 75,475 shares. The stock had previously closed at $57.21.
A number of equities analysts have recently weighed in on ASTE shares. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating and set a $54.00 price target for the company in a report on Thursday, April 28th. Maxim Group boosted their price target on Astec Industries from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, May 16th. Seaport Global Securities reissued an “accumulate” rating on shares of Astec Industries in a report on Tuesday, April 12th. Finally, Stifel Nicolaus boosted their price target on Astec Industries from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, May 17th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $49.33.
The firm has a market capitalization of $1.34 billion and a PE ratio of 37.68. The company’s 50-day moving average is $54.51 and its 200-day moving average is $45.56.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. During the same period in the previous year, the business posted $0.65 earnings per share. The firm had revenue of $278.70 million for the quarter, compared to the consensus estimate of $302.55 million. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts predict that Astec Industries Inc. will post $2.28 EPS for the current fiscal year.
In other Astec Industries news, insider Malcolm L. Swanson sold 2,987 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $49.33, for a total transaction of $147,348.71. Following the completion of the transaction, the insider now directly owns 160 shares of the company’s stock, valued at approximately $7,892.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard A. Patek sold 1,769 shares of the stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $53.07, for a total value of $93,880.83. Following the transaction, the insider now directly owns 1,763 shares of the company’s stock, valued at $93,562.41. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of ASTE. California State Teachers Retirement System raised its position in shares of Astec Industries by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 35,138 shares of the company’s stock worth $1,430,000 after buying an additional 625 shares during the last quarter. Rhumbline Advisers raised its stake in Astec Industries by 2.3% in the fourth quarter. Rhumbline Advisers now owns 32,821 shares of the company’s stock valued at $1,336,000 after buying an additional 740 shares in the last quarter. Comerica Bank raised its stake in Astec Industries by 38.7% in the fourth quarter. Comerica Bank now owns 71,708 shares of the company’s stock valued at $2,576,000 after buying an additional 20,015 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Astec Industries by 9.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,365,980 shares of the company’s stock valued at $55,595,000 after buying an additional 120,620 shares in the last quarter. Finally, Teton Advisors Inc. raised its stake in Astec Industries by 6.7% in the fourth quarter. Teton Advisors Inc. now owns 327,560 shares of the company’s stock valued at $13,332,000 after buying an additional 20,600 shares in the last quarter.
Astec Industries, Inc designs, engineers, manufactures 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.
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