Applied Industrial Technologies (NYSE:AIT – Get Free Report) had its target price reduced by analysts at KeyCorp from $420.00 to $360.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp‘s price target points to a potential upside of 21.04% from the company’s previous close.
A number of other analysts have also weighed in on AIT. Oppenheimer restated an “outperform” rating on shares of Applied Industrial Technologies in a report on Wednesday. DA Davidson raised their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings downgraded Applied Industrial Technologies from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday. Mizuho reduced their target price on Applied Industrial Technologies from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Finally, Bank of America increased their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $380.00.
Get Our Latest Stock Analysis on Applied Industrial Technologies
Applied Industrial Technologies Trading Down 8.4%
Shares of NYSE:AIT opened at $297.42 on Wednesday. Applied Industrial Technologies has a 12 month low of $238.72 and a 12 month high of $374.80. The company has a 50-day moving average price of $330.18 and a 200 day moving average price of $308.87. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 27.14 and a beta of 0.85.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.08. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.63 EPS. As a group, equities analysts forecast that Applied Industrial Technologies will post 12.00 EPS for the current year.
Insider Buying and Selling at Applied Industrial Technologies
In related news, CFO David Wells sold 1,812 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the transaction, the chief financial officer directly owned 32,050 shares of the company’s stock, valued at $11,380,955. This represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Wallace sold 1,904 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total value of $648,216.80. Following the completion of the transaction, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This trade represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Applied Industrial Technologies
A number of institutional investors have recently bought and sold shares of the business. Alpine Bank Wealth Management purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at $25,000. Global Retirement Partners LLC purchased a new position in shares of Applied Industrial Technologies during the second quarter worth $37,000. Kilter Group LLC acquired a new position in Applied Industrial Technologies during the second quarter valued at $40,000. Silvant Capital Management LLC acquired a new position in Applied Industrial Technologies during the second quarter valued at $54,000. Finally, Harbor Investment Advisory LLC acquired a new position in Applied Industrial Technologies during the second quarter valued at $96,000. 93.52% of the stock is owned by hedge funds and other institutional investors.
Applied Industrial Technologies News Summary
Here are the key news stories impacting Applied Industrial Technologies this week:
- Positive Sentiment: Quarterly earnings exceeded expectations. Fiscal Q1 2027 EPS was $2.97, above the $2.89 consensus estimate and up from $2.63 a year earlier. Revenue increased 7.6% to approximately $1.29 billion, in line with estimates. Applied Industrial Technologies Reports Fiscal 2027 First Quarter Results
- Positive Sentiment: Management provided a solid full-year outlook. Fiscal 2027 EPS is expected at $11.70 to $12.20, while the company maintained its 4% to 6.5% sales-growth forecast. Reports characterized the outlook as an increase in full-year guidance, although the sales-growth range was unchanged. Applied Industrial Technologies beats Q1 2027 EPS and raises full-year guidance
- Positive Sentiment: The quarterly dividend was maintained. AIT declared a $0.51-per-share quarterly dividend, or $2.04 annualized, with a stated yield of approximately 0.7%. The dividend is payable November 30 to shareholders of record November 13.
- Neutral Sentiment: Analysts remain constructive but more cautious. Robert W. Baird kept an “outperform” rating while lowering its price target from $400 to $350. KeyBanc also reduced its target to $360. The revised targets still imply substantial upside from the referenced $297.42 price. Robert W. Baird stock recommendations
- Negative Sentiment: The market’s reaction suggests expectations were high. Revenue merely matched forecasts, and the post-earnings decline indicates that investors may have wanted stronger growth or more aggressive guidance. The simultaneous price-target cuts reinforce concerns that near-term upside may be more limited despite the earnings beat. Applied Industrial Technologies stock price drops after Q1 results
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider of industrial motion, power transmission, fluid power, automation, and control products. Its offerings include bearings, mechanical power-transmission components, motors, gearboxes, hydraulic and pneumatic equipment, industrial hoses, process pumps, safety products, and related maintenance supplies.
The company also provides technical and engineering services designed to help customers improve equipment performance, reliability, and productivity.
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