Applied Industrial Technologies (NYSE:AIT) Coverage Initiated at Northcoast Research

Research analysts at Northcoast Research started coverage on shares of Applied Industrial Technologies (NYSE:AIT) in a research note issued on Monday, Marketbeat.com reports. The brokerage set a “neutral” rating on the industrial products company’s stock.

Several other research analysts have also issued reports on AIT. Oppenheimer initiated coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target on the stock. KeyCorp raised their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $201.00.

Applied Industrial Technologies Stock Down 1.2 %

NYSE:AIT traded down $2.42 on Monday, hitting $191.58. The stock had a trading volume of 61,407 shares, compared to its average volume of 308,882. The business’s fifty day moving average is $190.50 and its 200 day moving average is $185.55. The company has a market cap of $7.39 billion, a PE ratio of 20.05, a P/E/G ratio of 2.02 and a beta of 1.06. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies has a 52 week low of $138.38 and a 52 week high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.08. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. On average, equities research analysts expect that Applied Industrial Technologies will post 9.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction on Monday, May 20th. The stock was sold at an average price of $196.71, for a total transaction of $127,861.50. Following the sale, the vice president now directly owns 22,960 shares in the company, valued at $4,516,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Applied Industrial Technologies

Hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies during the first quarter worth $25,000. ICA Group Wealth Management LLC purchased a new stake in Applied Industrial Technologies in the fourth quarter worth $26,000. ZRC Wealth Management LLC purchased a new stake in Applied Industrial Technologies in the first quarter worth $42,000. Covestor Ltd increased its position in Applied Industrial Technologies by 300.0% in the first quarter. Covestor Ltd now owns 292 shares of the industrial products company’s stock worth $58,000 after buying an additional 219 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Applied Industrial Technologies by 68.5% during the first quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock worth $56,000 after buying an additional 124 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.