Applied Industrial Technologies (NYSE:AIT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Applied Industrial Technologies (NYSE:AITFree Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other equities research analysts also recently weighed in on the stock. Northcoast Research began coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. Bank of America started coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They set a “neutral” rating and a $232.00 price objective for the company. KeyCorp boosted their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Mizuho began coverage on Applied Industrial Technologies in a research note on Tuesday. They set an “outperform” rating and a $285.00 price target for the company. Finally, Robert W. Baird lifted their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $243.14.

Get Our Latest Analysis on Applied Industrial Technologies

Applied Industrial Technologies Trading Up 3.5 %

AIT opened at $231.75 on Tuesday. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies has a 52 week low of $149.59 and a 52 week high of $240.45. The business’s 50 day moving average is $214.20 and its two-hundred day moving average is $200.90. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AITGet Free Report) last announced its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company posted $2.35 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts predict that Applied Industrial Technologies will post 9.69 EPS for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,927 shares of company stock valued at $2,439,116. 2.20% of the stock is owned by company insiders.

Institutional Trading of Applied Industrial Technologies

Institutional investors have recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in shares of Applied Industrial Technologies in the 1st quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $34,000. Finally, Quarry LP purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $39,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Company Profile

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Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.

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