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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.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

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 is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 1.3% over the past one week and up 2% over the past four weeks. ASTE has gained 3.9% in the last one-year period as well. Looking at trading volume, an average of 101,647.45 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.03 to $2.90 per share. 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