Applied Industrial Technologies (NYSE:AIT – Get Free Report) is anticipated to issue its quarterly earnings data before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $2.21 per share and revenue of $1,078,346.88 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.39 EPS. On average, analysts expect Applied Industrial Technologies to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.
Applied Industrial Technologies Stock Down 0.4 %
NYSE AIT opened at $260.36 on Monday. The stock has a 50 day moving average price of $258.34 and a 200-day moving average price of $231.97. Applied Industrial Technologies has a one year low of $173.73 and a one year high of $282.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The company has a market capitalization of $10.01 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.59 and a beta of 1.08.
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Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Loop Capital increased their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Mizuho assumed coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.71.
Read Our Latest Stock Report on Applied Industrial Technologies
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.
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