Applied Industrial Technologies (NYSE:AIT) was upgraded by investment analysts at Wellington Shields to a “hold” rating in a research note issued on Tuesday, January 2nd.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, December 8th. ValuEngine raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Applied Industrial Technologies presently has a consensus rating of “Hold” and an average price target of $67.00.
Applied Industrial Technologies (AIT) opened at $69.35 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.13 and a quick ratio of 1.83. Applied Industrial Technologies has a 12 month low of $54.00 and a 12 month high of $71.60. The company has a market capitalization of $2,730.00, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.84 and a beta of 0.93.
Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a return on equity of 16.25% and a net margin of 5.29%. The firm had revenue of $680.70 million for the quarter, compared to analysts’ expectations of $668.18 million. During the same period in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. equities analysts predict that Applied Industrial Technologies will post 3.19 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Hartford Investment Management Co. bought a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $207,000. Teacher Retirement System of Texas bought a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $212,000. Riverhead Capital Management LLC boosted its position in shares of Applied Industrial Technologies by 57.0% during the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 1,198 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Applied Industrial Technologies by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 226 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $223,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
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About Applied Industrial Technologies
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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