Applied Industrial Technologies (NYSE:AIT) was upgraded by equities researchers at Wellington Shields to a “hold” rating in a research report issued to clients and investors on Tuesday, January 2nd.
AIT has been the subject of a number of other reports. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned 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 price target of $70.50.
Applied Industrial Technologies (NYSE:AIT) opened at $71.15 on Tuesday. Applied Industrial Technologies has a one year low of $54.00 and a one year high of $71.75. The firm has a market cap of $2,760.00, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The company had revenue of $680.70 million during the quarter, compared to analyst estimates of $668.18 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. equities analysts expect that Applied Industrial Technologies will post 3.26 EPS for the current year.
A number of hedge funds have recently made changes to their positions in AIT. Riverhead Capital Management LLC grew its holdings in Applied Industrial Technologies by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 1,198 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Applied Industrial Technologies by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after buying an additional 226 shares during the last quarter. Hartford Investment Management Co. bought a new position in shares of Applied Industrial Technologies in the 3rd quarter worth about $207,000. Teacher Retirement System of Texas bought a new position in shares of Applied Industrial Technologies in the 3rd quarter worth about $212,000. Finally, Pacad Investment Ltd. lifted its position in shares of Applied Industrial Technologies by 28.6% in the 2nd quarter. Pacad Investment Ltd. now owns 3,600 shares of the industrial products company’s stock worth $213,000 after buying an additional 800 shares during the last quarter. 87.90% of the stock is owned by institutional investors.
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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