Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $236.17 Consensus PT from Analysts

Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $236.17.

Several research firms have weighed in on AIT. Northcoast Research started coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They issued a "neutral" rating for the company. StockNews.com cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, September 5th. Bank of America started coverage on shares of Applied Industrial Technologies in a report on Monday, October 7th. They set a "neutral" rating and a $232.00 target price on the stock. Loop Capital raised their price target on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, August 16th. Finally, KeyCorp upped their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd.

Applied Industrial Technologies Trading Down 1.4 %

Shares of Applied Industrial Technologies stock traded down $3.26 on Friday, reaching $231.89. The company had a trading volume of 232,450 shares, compared to its average volume of 287,848. The firm's 50 day moving average price is $211.77 and its two-hundred day moving average price is $199.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. Applied Industrial Technologies has a 52-week low of $149.59 and a 52-week high of $235.75. The firm has a market cap of $8.95 billion, a PE ratio of 24.31, a PEG ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $2.35 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Applied Industrial Technologies will post 9.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Kurt W. Loring sold 4,858 shares of the firm'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 directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the transaction, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was 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 approximately $41,602,385.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock worth $2,439,116 in the last 90 days. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new stake in Applied Industrial Technologies in the first quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $34,000. Finally, Quarry LP purchased a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $39,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.