Notable Reporting: After Touching 52-Week High, Is Astec Industries, Inc.’s Near-Term Analysis Positive?

Notable Reporting: After Touching 52 Week High, Is Astec Industries, Inc.'s Near Term Analysis Positive?

The stock of Astec Industries, Inc. (NASDAQ:ASTE) hit a new 52-week high and has $92.66 target or 49.00% above today’s $62.19 share price. The 7 months bullish chart indicates low risk for the $1.43 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $92.66 price target is reached, the company will be worth $700.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 168,180 shares traded hands or 63.14% up from the average. Astec Industries, Inc. (NASDAQ:ASTE) has risen 22.67% since April 7, 2016 and is uptrending. It has outperformed by 17.89% the S&P500.

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

Out of 6 analysts covering Astec Industries (NASDAQ:ASTE), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. $60 is the highest target while $33 is the lowest. The $46 average target is -26.03% below today’s ($62.19) stock price. Astec Industries has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Wednesday, July 6 by Seaport Global. As per Monday, May 16, the company rating was maintained by Maxim Group. Robert W. Baird downgraded the shares of ASTE in a report on Tuesday, July 19 to “Underweight” rating. The firm earned “Accumulate” rating on Monday, September 28 by Global Hunter Securities. Maxim Group maintained Astec Industries, Inc. (NASDAQ:ASTE) rating on Tuesday, October 20. Maxim Group has “Buy” rating and $48 price target. The rating was upgraded by Stifel Nicolaus on Monday, August 31 to “Buy”.

According to Zacks Investment Research, “Astec Industries Inc. designs, engineers, manufactures, markets, and finances 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. In addition, the company is partner in a joint venture that makes testing and sampling equipment for the asphalt mix and aggregate processing industries.”

Insitutional Activity: The institutional sentiment increased to 1.67 in Q2 2016. Its up 0.30, from 1.37 in 2016Q1. The ratio improved, as 11 funds sold all Astec Industries, Inc. shares owned while 37 reduced positions. 28 funds bought stakes while 52 increased positions. They now own 17.27 million shares or 6.53% less from 18.48 million shares in 2016Q1.
Harvey Partners Limited Liability owns 39,000 shares or 2.19% of their US portfolio. Arizona State Retirement System has 9,766 shares for 0.01% of their US portfolio. Usa Financial Portformulas Corp last reported 0.11% of its portfolio in the stock. Barclays Pcl reported 20,931 shares or 0% of all its holdings. Ameriprise, a Minnesota-based fund reported 185,689 shares. Fincl Bank Of America Corporation De has 1,487 shares for 0% of their US portfolio. Metropolitan Life Company Ny accumulated 13,646 shares or 0.01% of the stock. Argent Capital Limited Liability Company accumulated 66,975 shares or 0.17% of the stock. Blackrock Invest Ltd Liability Corp owns 84,396 shares or 0.01% of their US portfolio. Community Services Limited Liability Company last reported 2.59% of its portfolio in the stock. Longbow Capital Partners Limited Partnership holds 10.9% or 8,708 shares in its portfolio. Moreover, Summit Group Limited Company has 0.16% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 5,452 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 488 shares. Commercial Bank Of Montreal Can, a Ontario – Canada-based fund reported 139,509 shares. Swiss Financial Bank, a Switzerland-based fund reported 29,800 shares.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 7 sales for $1.07 million net activity. $147,349 worth of Astec Industries, Inc. (NASDAQ:ASTE) was sold by Swanson Malcolm L on Tuesday, May 10. ELLIOTT JEFFREY J also sold $133,349 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Tuesday, May 10. On Friday, August 5 Silvious David C sold $64,538 worth of the stock or 1,076 shares. Shares for $40,072 were sold by May Jeffrey L on Friday, May 13. PATEK RICHARD A also sold $100,814 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Tuesday, May 24. SMITH W NORMAN sold $602,180 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Monday, August 1. 1,070 shares with value of $64,831 were sold by ANDERSON STEPHEN C on Monday, August 1.

More notable recent Astec Industries, Inc. (NASDAQ:ASTE) news were published by: Marketwatch.com which released: “Astec Industries downgraded neutral from outperform at RW Baird” on December 22, 2009, also Forbes.com with their article: “Ex-Dividend Reminder: Yadkin Financial, International Business Machines and …” published on November 04, 2016, Nasdaq.com published: “Astec Industries, Inc. (ASTE) Ex-Dividend Date Scheduled for November 08, 2016” on November 07, 2016. More interesting news about Astec Industries, Inc. (NASDAQ:ASTE) were released by: Globenewswire.com and their article: “Astec Industries, Inc. to Acquire Power Flame” published on July 07, 2016 as well as Quotes.Wsj.com‘s news article titled: “News Astec Industries Inc.ASTE” with publication date: February 12, 2011.

ASTE Company Profile

Astec Industries, Inc., incorporated on August 9, 1972, designs, engineers, makes 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. The Firm also makes 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. The Firm also makes a line of multiple use plants for cement treated base, roller compacted concrete and ready-mix concrete. The Company’s business divisions are Infrastructure Group, Aggregate and Mining Group and Energy Group.

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