Applied Industrial Technologies (NYSE:AIT) Updates FY25 Earnings Guidance

Applied Industrial Technologies (NYSE:AIT) issued an update on its FY25 earnings guidance on Thursday morning. The company provided EPS guidance of $9.25-10.00 for the period, compared to the consensus EPS estimate of $9.68. The company issued revenue guidance of +/-2.5% yr/yr to ~$4.37-4.59 billion, compared to the consensus revenue estimate of $4.51 billion. Applied Industrial Technologies also updated its FY 2025 guidance to 9.250-10.000 EPS.

Applied Industrial Technologies Price Performance

Shares of AIT stock traded up $7.93 during trading hours on Thursday, hitting $231.75. 641,928 shares of the company’s stock were exchanged, compared to its average volume of 288,968. The stock’s 50-day moving average is $214.20 and its 200-day moving average is $200.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. Applied Industrial Technologies has a 52 week low of $149.59 and a 52 week high of $240.45. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Applied Industrial Technologies will post 9.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIT. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America began coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They set a “neutral” rating and a $232.00 target price for the company. Northcoast Research began coverage on Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating on the stock. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Raymond James assumed coverage on shares of Applied Industrial Technologies in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

Insiders Place Their Bets

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,927 shares of company stock worth $2,439,116. Insiders own 2.20% of the company’s stock.

About Applied Industrial Technologies

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.