Applied Industrial Technologies, Inc. (NYSE:AIT) Given Consensus Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Applied Industrial Technologies, Inc. (NYSE:AIT – Get Free Report) has received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $229.00.

Several research firms recently commented on AIT. Robert W. Baird lifted their price objective on Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Northcoast Research began coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating for the company. Loop Capital lifted their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Raymond James began coverage on shares of Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 target price for the company. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th.

View Our Latest Stock Analysis on AIT

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $223.06 on Monday. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies has a 12-month low of $149.59 and a 12-month high of $226.31. The company has a 50-day simple moving average of $205.78 and a two-hundred day simple moving average of $196.80. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.31 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT – Get Free Report) last posted its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $2.35 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Applied Industrial Technologies will post 9.71 EPS for the current year.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 in the last three months. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

Several large investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its stake in Applied Industrial Technologies by 0.9% during the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after buying an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Applied Industrial Technologies by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 55 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its position in shares of Applied Industrial Technologies by 1.2% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock valued at $969,000 after purchasing an additional 59 shares during the period. Nisa Investment Advisors LLC raised its holdings in Applied Industrial Technologies by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock worth $3,374,000 after buying an additional 61 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Applied Industrial Technologies by 2.6% in the 1st quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 62 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Company Profile

(Get Free Report

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.

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