Wall Street analysts predict that Applied Industrial Technologies, Inc. (NYSE:AIT) will announce earnings per share (EPS) of $0.77 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Applied Industrial Technologies’ earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.81. Applied Industrial Technologies reported earnings of $0.70 per share during the same quarter last year, which suggests a positive year over year growth rate of 10%. The business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, October 25th.
On average, analysts expect that Applied Industrial Technologies will report full year earnings of $3.08 per share for the current year, with EPS estimates ranging from $3.05 to $3.10. For the next financial year, analysts expect that the firm will post earnings of $3.38 per share, with EPS estimates ranging from $3.30 to $3.45. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.56. The business had revenue of $681.47 million during the quarter, compared to the consensus estimate of $680.20 million. Applied Industrial Technologies had a net margin of 5.16% and a return on equity of 15.89%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share.
Several analysts have recently commented on AIT shares. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, BidaskClub downgraded shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Applied Industrial Technologies presently has an average rating of “Hold” and an average price target of $66.00.
In related news, VP Mark O. Eisele sold 4,939 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the transaction, the vice president now owns 106,090 shares in the company, valued at $5,931,491.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark O. Eisele sold 6,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $56.11, for a total transaction of $336,660.00. Following the transaction, the vice president now owns 153,029 shares of the company’s stock, valued at approximately $8,586,457.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,571 shares of company stock valued at $4,070,841. 3.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of AIT. Envestnet Asset Management Inc. grew its position in Applied Industrial Technologies by 2.4% during the first quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock valued at $170,000 after buying an additional 64 shares during the period. Ameritas Investment Partners Inc. bought a new position in Applied Industrial Technologies during the first quarter valued at about $194,000. Riverhead Capital Management LLC grew its position in Applied Industrial Technologies by 57.0% during the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock valued at $195,000 after buying an additional 1,198 shares during the period. Paradigm Asset Management Co. LLC grew its position in Applied Industrial Technologies by 59.1% during the second quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock valued at $207,000 after buying an additional 1,300 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Applied Industrial Technologies during the second quarter valued at about $211,000. Institutional investors own 87.54% of the company’s stock.
Applied Industrial Technologies (AIT) traded down 0.62% on Friday, reaching $64.60. 26,460 shares of the company were exchanged. The company’s 50-day moving average price is $59.94 and its 200-day moving average price is $59.98. Applied Industrial Technologies has a 12-month low of $43.50 and a 12-month high of $69.00. The stock has a market capitalization of $2.52 billion, a P/E ratio of 19.00 and a beta of 0.95.
About Applied Industrial Technologies
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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