Revenue Update on Astec Industries(NASDAQ:ASTE)

Astec Industries(NASDAQ:ASTE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $294.39M. Analysts estimated a revenue of $283.44M. Earnings per share were $0.79. Analysts had estimated an EPS of $0.75.

In a different note, On Jul 19, 2016, Baird said it Downgrades its rating on Astec Industries. The shares have been rated ‘Underweight’ by the firm. On Jul 12, 2016, BB&T Capital said it Downgrades its rating on Astec Industries. The shares have been rated ‘Hold’ by the firm. On Jul 6, 2016, Seaport Global said it Downgrades its rating on Astec Industries. The shares have been rated ‘Neutral’ by the firm.

Astec Industries (ASTE) shares turned negative on Fridays trading session with the shares closing down -0.57 points or -0.94% at a volume of 1,51,162. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $61.1. The peak price level was also seen at $61.1 while the days lowest was $60.02. Finally the shares closed at $60.28. The 52-week high of the shares is $62.75 while the 52-week low is $30.76. According to the latest information available, the market cap of the company is $1,389 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Richard A Patek (Group Pres Aggregate & Mining) sold 1,769 shares at $53.07 per share price.Also, 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 Company’s business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.

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