Analysts Issue Forecasts for Applied Industrial Technologies’ Q4 2018 Earnings (AIT)

Applied Industrial Technologies (NYSE:AIT) – Northcoast Research increased their Q4 2018 earnings per share (EPS) estimates for Applied Industrial Technologies in a research report issued to clients and investors on Wednesday. Northcoast Research analyst R. Cieslak now expects that the industrial products company will earn $0.95 per share for the quarter, up from their previous forecast of $0.83.

AIT has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Wellington Shields raised shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $70.50.

Shares of Applied Industrial Technologies (NYSE AIT) opened at $70.20 on Friday. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $71.60. The firm has a market cap of $2,724.81, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.79 and a beta of 0.93.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. The business had revenue of $680.70 million during the quarter, compared to the consensus estimate of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. Applied Industrial Technologies’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS.

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its holdings in Applied Industrial Technologies by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,286 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 23 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Applied Industrial Technologies by 2.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,158 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 156 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of Applied Industrial Technologies by 1.7% during the 2nd quarter. Gotham Asset Management LLC now owns 10,849 shares of the industrial products company’s stock worth $641,000 after acquiring an additional 183 shares during the period. Suntrust Banks Inc. lifted its holdings in shares of Applied Industrial Technologies by 3.0% during the 2nd quarter. Suntrust Banks Inc. now owns 6,845 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 198 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Applied Industrial Technologies by 0.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,966 shares of the industrial products company’s stock worth $2,065,000 after acquiring an additional 200 shares during the period. 87.89% of the stock is owned by hedge funds and other institutional investors.

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Applied Industrial Technologies Company Profile

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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