Applied Industrial Technologies, Inc. (NYSE:AIT) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. BidaskClub downgraded Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Applied Industrial Technologies has an average rating of “Hold” and an average target price of $66.00.
Shares of Applied Industrial Technologies (NYSE AIT) opened at $61.10 on Tuesday. The firm has a market capitalization of $2,391.02, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.61 and a beta of 0.94. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $70.05. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37.
Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a return on equity of 16.25% and a net margin of 5.29%. The firm had revenue of $680.70 million during the quarter, compared to the consensus estimate of $668.18 million. During the same period last year, the business posted $0.70 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. equities analysts anticipate that Applied Industrial Technologies will post 3.19 EPS for the current fiscal year.
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In other news, VP Mark O. Eisele sold 11,854 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $55.76, for a total transaction of $660,979.04. Following the transaction, the vice president now owns 147,029 shares of the company’s stock, valued at approximately $8,198,337.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark O. Eisele sold 8,926 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $54.55, for a total transaction of $486,913.30. Following the transaction, the vice president now directly owns 141,029 shares in the company, valued at approximately $7,693,131.95. The disclosure for this sale can be found here. Insiders have sold a total of 67,571 shares of company stock worth $3,729,321 in the last three months. Insiders own 3.70% of the company’s stock.
A number of large investors have recently bought and sold shares of AIT. Riverhead Capital Management LLC increased its stake in Applied Industrial Technologies by 57.0% in the 2nd 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 last quarter. Ameritas Investment Partners Inc. increased its stake in Applied Industrial Technologies by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after buying an additional 226 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in Applied Industrial Technologies by 59.1% in the 2nd 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 last quarter. Hartford Investment Management Co. purchased a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $207,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 88.01% of the company’s stock.
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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