Equities Analysts Set Expectations for Applied Industrial Technologies, Inc.’s Q1 2018 Earnings (AIT)

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at KeyCorp dropped their Q1 2018 earnings estimates for shares of Applied Industrial Technologies in a note issued to investors on Sunday. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings of $0.79 per share for the quarter, down from their prior estimate of $0.81. KeyCorp also issued estimates for Applied Industrial Technologies’ FY2019 earnings at $3.40 EPS.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.56. The business had revenue of $681.47 million for the quarter, compared to analysts’ expectations of $680.20 million. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS.

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A number of other equities research analysts have also issued reports on AIT. BidaskClub raised shares of Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Northcoast Research began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Applied Industrial Technologies has a consensus rating of “Hold” and a consensus target price of $66.00.

Shares of Applied Industrial Technologies (NYSE:AIT) opened at 64.25 on Tuesday. The company has a 50 day moving average price of $60.22 and a 200-day moving average price of $59.97. The firm has a market cap of $2.51 billion, a PE ratio of 18.90 and a beta of 0.95. Applied Industrial Technologies has a 12-month low of $43.50 and a 12-month high of $69.00.

In related news, VP Mark O. Eisele sold 8,926 shares of Applied Industrial Technologies stock in a transaction on Friday, August 18th. The shares were sold at an average price of $54.55, for a total value of $486,913.30. Following the completion of the sale, the vice president now owns 141,029 shares of the company’s stock, valued at approximately $7,693,131.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark O. Eisele sold 6,000 shares of Applied Industrial Technologies stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $56.92, for a total transaction of $341,520.00. Following the completion of the sale, the vice president now directly owns 159,029 shares of the company’s stock, valued at approximately $9,051,930.68. The disclosure for this sale can be found here. Insiders have sold a total of 73,571 shares of company stock valued at $4,070,841 in the last three months. Company insiders own 3.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. South Dakota Investment Council lifted its stake in shares of Applied Industrial Technologies by 12.3% in the 1st quarter. South Dakota Investment Council now owns 9,100 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,000 shares during the last quarter. Mason Street Advisors LLC lifted its stake in shares of Applied Industrial Technologies by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 9,117 shares of the industrial products company’s stock valued at $564,000 after purchasing an additional 593 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Applied Industrial Technologies by 66.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,360 shares of the industrial products company’s stock valued at $848,000 after purchasing an additional 5,716 shares during the last quarter. Chicago Equity Partners LLC lifted its stake in shares of Applied Industrial Technologies by 55.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 57,300 shares of the industrial products company’s stock valued at $3,384,000 after purchasing an additional 20,520 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its stake in shares of Applied Industrial Technologies by 1.8% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 26,310 shares of the industrial products company’s stock valued at $1,554,000 after purchasing an additional 465 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Applied Industrial Technologies (NYSE:AIT)

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