Zacks Research Has Bullish Forecast for AIT Q1 Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities research analysts at Zacks Research upped their Q1 2027 earnings per share estimates for shares of Applied Industrial Technologies in a research report issued to clients and investors on Wednesday, January 22nd. Zacks Research analyst S. Roy now anticipates that the industrial products company will post earnings of $2.68 per share for the quarter, up from their previous forecast of $2.67. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.77 per share.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $2.39 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year.

A number of other research firms have also issued reports on AIT. 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. Oppenheimer boosted their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. KeyCorp lifted their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Raymond James raised their price objective on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.71.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $261.53 on Friday. 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 $173.73 and a 52-week high of $282.98. The firm has a market cap of $10.05 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.61 and a beta of 1.08. The company’s 50 day moving average is $258.66 and its two-hundred day moving average is $230.61.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, the vice president now owns 55,709 shares of the company’s stock, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the business’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 completion of the sale, the director now directly owns 3,462 shares of the company’s stock, valued at $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. Insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of hedge funds have recently modified their holdings of AIT. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth $34,000. First Horizon Advisors Inc. increased its stake in Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the period. Quarry LP acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth about $39,000. UMB Bank n.a. boosted its stake in shares of Applied Industrial Technologies by 68.1% during the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after buying an additional 77 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Applied Industrial Technologies by 42.6% during the second quarter. EverSource Wealth Advisors LLC now owns 435 shares of the industrial products company’s stock worth $84,000 after buying an additional 130 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.