Applied Industrial Technologies Receives Consensus Rating of “Hold” from Analysts (NYSE:AIT)
Applied Industrial Technologies (NYSE:AIT) has been given an average recommendation of “Hold” by the seven brokerages that are covering the stock, AnalystRatingsNetwork reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $55.83.
Shares of Applied Industrial Technologies (NYSE:AIT) traded down 0.06% during mid-day trading on Tuesday, hitting $51.00. 40,543 shares of the company’s stock traded hands. Applied Industrial Technologies has a one year low of $45.62 and a one year high of $53.57. The stock has a 50-day moving average of $49.0 and a 200-day moving average of $48.81. The company has a market cap of $2.130 billion and a P/E ratio of 18.76.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results 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 $2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Wednesday, August 13th.
A number of research firms have recently commented on AIT. Analysts at Citigroup Inc. upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Separately, analysts at BB&T Corp. upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $64.00 price target on the stock. Finally, 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.
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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