Applied Industrial Technologies Upgraded to Buy at BB&T Corp. (AIT)
Separately, analysts at Sidoti upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.10.
Shares of Applied Industrial Technologies (NYSE:AIT) opened at 51.95 on Monday. Applied Industrial Technologies has a 52-week low of $45.62 and a 52-week high of $53.57. The stock’s 50-day moving average is $48.87 and its 200-day moving average is $48.7. The company has a market cap of $2.170 billion and a P/E ratio of 18.87.
Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.76 by $0.04. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $217.25 million. During the same quarter last year, the company posted $0.69 earnings per share. Applied Industrial Technologies’s revenue was down .6% compared to the same quarter last year. On average, analysts predict that Applied Industrial Technologies will post $2.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, August 13th.
Applied Industrial Technologies, Inc (NYSE:AIT) is an industrial distributor in North America, supplying customers in a range of industries with products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and general maintenance and mill supply products.
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