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Here's Why Astec Industries (ASTE) is a Strong Momentum Stock

Zacks Equity Research
·2 min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Astec Industries (ASTE)

Chattanooga, TN-based Astec Industries Inc. is a leading manufacturer and marketer of road building equipment. The company sells equipment used in each phase of road building, from quarrying and crushing the aggregate to applying the asphalt.

ASTE boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Astec Industries has seen some interesting price action recently; the stock is up 1.7% over the past one week and up 16.5% over the past four weeks. And in the last one-year period, ASTE has gained 2.5%. As for the stock's trading volume, 169,190.84 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For ASTE, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $2.90 per share for 2024. ASTE boasts an average earnings surprise of 10.9%.

ASTE should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Astec Industries, Inc. (ASTE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research