Several analysts have recently updated their ratings and price targets for Applied Industrial Technologies (NYSE: AIT):

  • 9/14/2017 – Applied Industrial Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Over the last year, Applied Industrial’s shares outperformed the industry. The company reported better-than-expected fourth-quarter fiscal 2017 results. Quarterly adjusted earnings of 78 cents per share surpassed the Zacks Consensus Estimate by a penny. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company’s near-term bottom-line performances. Notably, the company remains committed towards its shareholders. Over the last 60 days Zacks Consensus Estimate for the stock moved north for both fiscal 2018 and 2019.”
  • 9/12/2017 – Applied Industrial Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the last month, Applied Industrial’s shares outperformed the industry. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company’s near-term bottom-line performances. However, the company perceives that a stronger U.S. dollar might continue to hurt its overseas market revenues in the quarters ahead. Even so, other headwinds such as increasing industry rivalry or consolidation among consumers or suppliers, might curtail near-term growth. Over the last 30 days, Zacks Consensus Estimate for the stock moved north for fiscal 2018 but remained unchanged for fiscal 2019.”
  • 9/6/2017 – Applied Industrial Technologies was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/5/2017 – Applied Industrial Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. According to Zacks, “Over the last year, Applied Industrial’s shares outperformed the sector. The company reported better-than-expected fourth-quarter fiscal 2017 results. Quarterly adjusted earnings of 78 cents per share surpassed the Zacks Consensus Estimate by a penny. In addition, net sales in the reported quarter handily beat the Zacks Consensus Estimate by 3.4%. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company’s near-term bottom-line performances. Notably, the company remains committed towards its shareholders.”
  • 8/30/2017 – Applied Industrial Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Applied Industrial reported better-than-expected fourth-quarter fiscal 2017 results. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company’s near-term bottom-line performances. However, over the last three months, the stock has underperformed the industry.  The company perceives that a stronger U.S. dollar might continue to hurt its overseas market revenues in the quarters ahead. Even so, other headwinds such as increasing industry rivalry or consolidation among consumers or suppliers, might curtail near-term growth.”
  • 8/24/2017 – Applied Industrial Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Over the last year, Applied Industrial’s shares outperformed the sector. The company reported better-than-expected fourth-quarter fiscal 2017 results. Quarterly adjusted earnings of 78 cents per share surpassed the Zacks Consensus Estimate by a penny. In addition, net sales in the reported quarter handily beat the Zacks Consensus Estimate by 3.4%. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company’s near-term bottom-line performances. Notably, the company remains committed towards its shareholders.”
  • 8/23/2017 – Applied Industrial Technologies was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/23/2017 – Applied Industrial Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Applied Industrial reported better-than-expected fourth-quarter fiscal 2017 results. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company's near-term bottom-line performances. However, over the last three months, the stock has underperformed the industry. The company perceives that a stronger U.S. dollar might continue to hurt its overseas market revenues in the quarters ahead. Even so, other headwinds such as increasing industry rivalry or consolidation among consumers or suppliers, might curtail near-term growth.”
  • 8/14/2017 – Applied Industrial Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $61.00 price target on the stock. According to Zacks, “Over the last 12 months, Applied Industrial's shares outperformed the industry. The company reported better-than-expected fourth-quarter fiscal 2017 results. Quarterly adjusted earnings of 79 cents per share surpassed the Zacks Consensus Estimate by a penny. In addition, net sales in the reported quarter handily beat the Zacks Consensus Estimate by 3.4%. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company's near-term bottom-line performances. Notably, the company remains committed towards its shareholders.”
  • 8/14/2017 – Applied Industrial Technologies was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/1/2017 – Applied Industrial Technologies was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/25/2017 – Applied Industrial Technologies is now covered by analysts at Northcoast Research. They set a “neutral” rating on the stock.
  • 7/24/2017 – Applied Industrial Technologies was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) traded up 1.41% during trading on Monday, hitting $61.10. The company had a trading volume of 47,838 shares. Applied Industrial Technologies, Inc. has a 52 week low of $43.50 and a 52 week high of $69.00. The firm’s 50 day moving average is $56.58 and its 200-day moving average is $59.78. The stock has a market capitalization of $2.39 billion, a P/E ratio of 17.97 and a beta of 0.92.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Friday, August 11th. The industrial products company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.56. The company had revenue of $681.47 million for the quarter, compared to the consensus estimate of $680.20 million. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Equities research analysts anticipate that Applied Industrial Technologies, Inc. will post $3.10 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.91%. Applied Industrial Technologies’s dividend payout ratio is 34.12%.

In related news, VP Mark O. Eisele sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $56.92, for a total value of $341,520.00. Following the transaction, the vice president now owns 159,029 shares of the company’s stock, valued at $9,051,930.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark O. Eisele sold 4,939 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total value of $276,139.49. Following the completion of the transaction, the vice president now directly owns 106,090 shares in the company, valued at approximately $5,931,491.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,571 shares of company stock worth $4,070,841. Insiders own 3.70% of the company’s stock.

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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