Applied Industrial Technologies Receives Consensus Rating of “Hold” from Analysts (NYSE:AIT)
Applied Industrial Technologies (NYSE:AIT) has received a consensus recommendation of “Hold” from the seven analysts that are covering the company, American Banking & Market News reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $55.83.
Shares of Applied Industrial Technologies (NYSE:AIT) opened at 50.04 on Tuesday. 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 $49.55 and a 200-day moving average of $48.86. The company has a market cap of $2.090 billion and a P/E ratio of 18.38.
Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. 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. Shareholders 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 2.00%. The ex-dividend date is Wednesday, August 13th.
AIT has been the subject of a number of recent research reports. Analysts at Citigroup Inc. upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Monday, July 7th. 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, July 7th. 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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