The stock of Astec Industries, Inc. (NASDAQ:ASTE) reached all time high today, Nov, 10 and still has $87.26 target or 38.00% above today’s $63.23 share price. This indicates more upside for the $1.69 billion company. This technical setup was reported by Barchart.com. If the $87.26 PT is reached, the company will be worth $642.20M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 341,826 shares traded hands or 182.88% up from the average. Astec Industries, Inc. (NASDAQ:ASTE) has risen 41.24% since April 8, 2016 and is uptrending. It has outperformed by 35.59% 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. Astec Industries has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was upgraded by Global Hunter Securities on Monday, September 28 to “Accumulate”. The firm has “Buy” rating by Maxim Group given on Monday, May 16. The stock has “Underweight” rating given by Robert W. Baird on Tuesday, July 19. The firm has “Buy” rating by Stifel Nicolaus given on Monday, August 31. The firm earned “Buy” rating on Tuesday, October 20 by Maxim Group. The stock of Astec Industries, Inc. (NASDAQ:ASTE) has “Neutral” rating given on Wednesday, July 6 by Seaport Global.
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 2016 Q2. Its up 0.30, from 1.37 in 2016Q1. The ratio is positive, 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.
Blackrock Grp Inc Limited, a United Kingdom-based fund reported 27,541 shares. Moreover, Fincl Bank Of New York Mellon has 0.01% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 632,413 shares. Pier Cap Ltd Liability Company last reported 0.51% of its portfolio in the stock. Pacad Inv last reported 1,700 shares in the company. Principal Financial Grp Inc reported 137,809 shares or 0.01% of all its holdings. Gamco Invsts Incorporated Et Al, a New York-based fund reported 1.25 million shares. Neuberger Berman Gru Limited Liability Corporation reported 6,274 shares or 0% of all its holdings. Ladenburg Thalmann Finance Svcs holds 0% or 93 shares in its portfolio. Ftb Advsr holds 400 shares or 0% of its portfolio. Arizona State Retirement holds 0.01% or 9,766 shares in its portfolio. Thompson Davis And Incorporated has invested 0.1% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE). Geode Cap Management Limited Co has invested 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE). Caxton Ltd Partnership has 28,800 shares for 0.04% of their US portfolio. Teton Advsrs holds 1.66% or 327,300 shares in its portfolio. Teachers Retirement Systems Of The State Of Kentucky has invested 0% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE).
Insider Transactions: Since May 13, 2016, the stock had 0 insider purchases, and 8 insider sales for $1.27 million net activity. Leffew Robin A also sold $21,008 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Wednesday, May 18. 800 shares with value of $40,072 were sold by May Jeffrey L on Friday, May 13. $64,538 worth of Astec Industries, Inc. (NASDAQ:ASTE) was sold by Silvious David C. On Wednesday, May 25 PATEK RICHARD A sold $93,881 worth of the stock or 1,769 shares. $207,773 worth of shares were sold by Irvine John J. III on Wednesday, November 9. $64,831 worth of Astec Industries, Inc. (NASDAQ:ASTE) shares were sold by ANDERSON STEPHEN C. 10,000 Astec Industries, Inc. (NASDAQ:ASTE) shares with value of $602,180 were sold by SMITH W NORMAN.
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, Globenewswire.com published: “Astec Industries, Inc. to Acquire Power Flame” on July 07, 2016. More interesting news about Astec Industries, Inc. (NASDAQ:ASTE) were released by: Nasdaq.com and their article: “Astec Industries, Inc. (ASTE) Ex-Dividend Date Scheduled for November 08, 2016” published on November 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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