Applied Industrial Technologies (NYSE:AIT) Issues FY25 Earnings Guidance

Applied Industrial Technologies (NYSE:AIT) updated its FY25 earnings guidance on Thursday. The company provided EPS guidance of $9.25-10.00 for the period, compared to the consensus EPS estimate of $9.68. The company issued revenue guidance of +/-2.5% yr/yr to ~$4.37-4.59 billion, compared to the consensus revenue estimate of $4.51 billion. Applied Industrial Technologies also updated its FY 2025 guidance to 9.250-10.000 EPS.

Applied Industrial Technologies Stock Performance

AIT stock traded up $7.93 during midday trading on Thursday, hitting $231.75. 641,928 shares of the company traded hands, compared to its average volume of 288,968. Applied Industrial Technologies has a twelve month low of $149.59 and a twelve month high of $240.45. The stock has a market capitalization 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. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The business has a 50 day simple moving average of $214.20 and a 200-day simple moving average of $200.90.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.12. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. Applied Industrial Technologies’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 EPS. As a group, equities research analysts predict that Applied Industrial Technologies will post 9.69 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on AIT. Loop Capital boosted their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Raymond James started coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price target for the company. Bank of America began coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They issued a “neutral” rating and a $232.00 price objective for the company. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,927 shares of company stock worth $2,439,116. 2.20% of the stock is owned by corporate insiders.

Applied Industrial Technologies Company Profile

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.