Applied Industrial Technologies (NYSE:AIT) Receives New Coverage from Analysts at Mizuho

Investment analysts at Mizuho assumed coverage on shares of Applied Industrial Technologies (NYSE:AIT - Get Free Report) in a research report issued on Tuesday, Marketbeat reports. The brokerage set an "outperform" rating and a $285.00 price target on the industrial products company's stock. Mizuho's price objective would indicate a potential upside of 25.98% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Loop Capital raised their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, August 16th. Raymond James assumed coverage on Applied Industrial Technologies in a research report on Wednesday, September 4th. They issued an "outperform" rating and a $225.00 target price on the stock. StockNews.com lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, September 5th. Robert W. Baird raised their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of Applied Industrial Technologies in a research report on Monday, October 7th. They set a "neutral" rating and a $232.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.14.

Applied Industrial Technologies Stock Performance

NYSE AIT traded down $3.76 during trading hours on Tuesday, hitting $226.22. The company's stock had a trading volume of 238,399 shares, compared to its average volume of 286,765. Applied Industrial Technologies has a 12 month low of $149.59 and a 12 month high of $235.75. The company's 50 day simple moving average is $212.49 and its two-hundred day simple moving average is $200.31. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. The company has a market cap of $8.73 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.12. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 earnings per share. As a group, sell-side analysts expect that Applied Industrial Technologies will post 9.69 EPS for the current fiscal year.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 3,366 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now owns 19,315 shares of the company's stock, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Kurt W. Loring sold 3,366 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares of the company's stock, valued at approximately $4,037,221.30. The trade was a 0.00 % decrease in their position. The transaction 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 that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 over the last three months. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several large investors have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new position in Applied Industrial Technologies during the first quarter valued at $25,000. Headlands Technologies LLC bought a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in Applied Industrial Technologies in the second quarter worth about $32,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies during the third quarter worth approximately $34,000. Finally, Quarry LP purchased a new stake in Applied Industrial Technologies during the second quarter valued at approximately $39,000. Institutional investors own 93.52% 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.