Applied Industrial Technologies (NYSE:AIT) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $63.00.
A number of equities analysts have recently issued reports on AIT shares. Wellington Shields raised Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a report on Wednesday, December 27th. Zacks Investment Research cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, ValuEngine raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
In related news, Director Green Edith Kelly sold 6,873 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $74.41, for a total transaction of $511,419.93. Following the completion of the sale, the director now directly owns 24,230 shares of the company’s stock, valued at approximately $1,802,954.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd A. Barlett sold 3,800 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $75.00, for a total value of $285,000.00. Following the sale, the vice president now directly owns 90,155 shares of the company’s stock, valued at $6,761,625. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Applied Industrial Technologies by 39.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 730 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in Applied Industrial Technologies during the 4th quarter valued at $206,000. LPL Financial LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter valued at $212,000. Meeder Asset Management Inc. increased its holdings in Applied Industrial Technologies by 175.2% during the 4th quarter. Meeder Asset Management Inc. now owns 4,285 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 2,728 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter valued at $307,000. 89.79% of the stock is owned by hedge funds and other institutional investors.
Applied Industrial Technologies stock opened at $71.05 on Friday. Applied Industrial Technologies has a 12 month low of $54.00 and a 12 month high of $75.40. The company has a quick ratio of 1.90, a current ratio of 3.33 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $2,747.83, a price-to-earnings ratio of 22.48, a PEG ratio of 1.77 and a beta of 0.92.
Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. Applied Industrial Technologies had a return on equity of 16.53% and a net margin of 5.43%. The business had revenue of $667.19 million during the quarter, compared to analysts’ expectations of $651.05 million. analysts expect that Applied Industrial Technologies will post 3.34 earnings per share for the current fiscal year.
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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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