Astec Industries (ASTE) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.79 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.75. The company posted revenue of $294.39 million in the period, compared to analysts expectations of $283.44 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.
Many Wall Street Analysts have commented on Astec Industries. Robert W. Baird Downgraded Astec Industries on Jul 19, 2016 to ” Neutral”, Price Target of the shares are set at $55.Astec Industries was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 12, 2016. Seaport Global Securities Downgraded Astec Industries on Jul 6, 2016 to ” Neutral”, Price Target of the shares are set at $52.
Astec Industries opened for trading at $54.71 and hit $55.2 on the upside on Wednesday, eventually ending the session at $55.1, with a gain of 1.12% or 0.61 points. The heightened volatility saw the trading volume jump to 1,42,815 shares. Company has a market cap of $1,270 M.
In a different news, on May 26, 2016, Richard A Patek (Group Pres Aggregate & Mining) sold 1,769 shares at $53.07 per share price. According to the SEC, on May 19, 2016, Robin A Leffew (Corporate Controller) sold 404 shares at $52.00 per share price. On May 16, 2016, Jeffrey L May (President-KPI) sold 800 shares at $50.09 per share price, according to the Form-4 filing with the securities and exchange commission.
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 road building from quarrying and crushing the aggregate to application of the road surface. The Company manufactures 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. It also manufactures multiple use plants for cement treated base roller compacted concrete and ready-mix concrete. The Companys business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.