Zacks Research Research Analysts Reduce Earnings Estimates for Applied Industrial Technologies, Inc. (NYSE:AIT)

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at Zacks Research dropped their FY2027 EPS estimates for shares of Applied Industrial Technologies in a note issued to investors on Tuesday, September 24th. Zacks Research analyst S. Roy now forecasts that the industrial products company will earn $11.28 per share for the year, down from their prior forecast of $11.37. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.71 per share.

Several other brokerages have also recently weighed in on AIT. Raymond James initiated coverage on shares of Applied Industrial Technologies in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target on the stock. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating for the company. Finally, Loop Capital upped their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Applied Industrial Technologies Trading Up 0.5 %

Applied Industrial Technologies stock opened at $223.07 on Thursday. The stock has a market cap of $8.61 billion, a P/E ratio of 23.38, a PEG ratio of 2.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. Applied Industrial Technologies has a 1 year low of $149.59 and a 1 year high of $226.31. The firm’s 50 day moving average price is $205.40 and its 200-day moving average price is $196.44.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS.

Institutional Trading of Applied Industrial Technologies

Several hedge funds have recently made changes to their positions in AIT. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies in the 1st quarter worth $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at $26,000. ICA Group Wealth Management LLC bought a new stake in Applied Industrial Technologies in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at $32,000. Finally, Quarry LP bought a new position in shares of Applied Industrial Technologies during the 2nd quarter worth about $39,000. Institutional investors own 93.52% of the company’s stock.

Insiders Place Their Bets

In related news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock valued at $2,439,116 over the last quarter. Company insiders own 2.20% of the company’s stock.

About Applied Industrial Technologies

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.