Applied Industrial Technologies (NYSE:AIT) Releases FY20 Earnings Guidance

Applied Industrial Technologies (NYSE:AIT) updated its FY20 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.20-4.40 for the period, compared to the Thomson Reuters consensus estimate of $4.35. The company issued revenue guidance of (2%) to flat yr/yr to $3.40-3.47 billion, compared to the consensus revenue estimate of $3.51 billion.Applied Industrial Technologies also updated its FY 2020
Pre-Market guidance to 4.20-4.40 EPS.

A number of analysts have recently issued reports on the company. Sidoti lifted their price target on Applied Industrial Technologies from $61.00 to $71.00 and gave the stock a neutral rating in a research note on Monday, December 9th. Robert W. Baird started coverage on Applied Industrial Technologies in a report on Thursday, December 12th. They issued a buy rating and a $81.00 price objective on the stock. Zacks Investment Research downgraded Applied Industrial Technologies from a hold rating to a sell rating and set a $65.00 price objective on the stock. in a report on Friday, November 15th. KeyCorp restated an overweight rating and set a $75.00 price target (up previously from $70.00) on shares of Applied Industrial Technologies in a report on Wednesday, December 11th. Finally, ValuEngine upgraded Applied Industrial Technologies from a sell rating to a hold rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Applied Industrial Technologies currently has an average rating of Hold and a consensus price target of $73.67.

Shares of NYSE AIT opened at $65.64 on Thursday. The stock’s 50-day moving average is $66.31 and its two-hundred day moving average is $59.72. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.39 and a quick ratio of 1.42. Applied Industrial Technologies has a 1-year low of $49.45 and a 1-year high of $68.44. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 19.14 and a beta of 1.37.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.01. Applied Industrial Technologies had a return on equity of 18.22% and a net margin of 3.86%. The company had revenue of $856.40 million for the quarter, compared to the consensus estimate of $850.45 million. During the same quarter in the prior year, the business earned $1.14 EPS. Applied Industrial Technologies’s revenue was down .9% on a year-over-year basis. Equities research analysts anticipate that Applied Industrial Technologies will post 4.37 earnings per share for the current fiscal year.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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