Applied Industrial Technologies (NYSE:AIT) Stock Rating Lowered by Wall Street Zen

Applied Industrial Technologies (NYSE:AIT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research firms also recently weighed in on AIT. KeyCorp dropped their price target on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, Mizuho set a $305.00 target price on Applied Industrial Technologies in a report on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $290.63.

Applied Industrial Technologies Stock Up 0.2%

Shares of NYSE AIT opened at $260.10 on Friday. The company has a quick ratio of 2.50, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.70 billion, a PE ratio of 24.75, a P/E/G ratio of 2.64 and a beta of 0.87. The company’s fifty day simple moving average is $264.62 and its 200 day simple moving average is $261.59. Applied Industrial Technologies has a 12-month low of $199.96 and a 12-month high of $286.66.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, sell-side analysts forecast that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors have recently bought and sold shares of AIT. Torren Management LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC grew its stake in shares of Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 89 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $27,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $29,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Applied Industrial Technologies by 2,033.3% during the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

About Applied Industrial Technologies

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.