Applied Industrial Technologies (AIT) Projected to Post Earnings on Wednesday

Applied Industrial Technologies (NYSE:AIT) is anticipated to post its quarterly earnings results before the market opens on Wednesday, January 29th. Analysts expect Applied Industrial Technologies to post earnings of $2.21 per share and revenue of $1,078,346.88 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Applied Industrial Technologies Price Performance

AIT stock opened at $251.21 on Tuesday. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 3.59 and a beta of 1.08. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies has a 52-week low of $176.32 and a 52-week high of $282.98. The stock’s fifty day simple moving average is $258.34 and its 200-day simple moving average is $231.97.

Wall Street Analyst Weigh In

AIT has been the subject of several recent analyst reports. Loop Capital lifted their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Raymond James upped their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.71.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the sale, the director now owns 3,462 shares in the company, valued at approximately $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by insiders.

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.