Applied Industrial Technologies (NYSE:AIT) Reaches New 52-Week High – What’s Next?

Applied Industrial Technologies, Inc. (NYSE:AIT) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $286.19 and last traded at $283.2260, with a volume of 116264 shares trading hands. The stock had previously closed at $277.44.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AIT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $287.50.

Applied Industrial Technologies Price Performance

The firm’s fifty day simple moving average is $260.81 and its 200-day simple moving average is $260.65. The firm has a market capitalization of $10.70 billion, a PE ratio of 27.31, a PEG ratio of 2.87 and a beta of 0.87. The company has a quick ratio of 2.50, a current ratio of 3.55 and a debt-to-equity ratio of 0.30.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.16. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $2.36 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its position in shares of Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $29,000. Hantz Financial Services Inc. grew its stake in shares of Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the period. Finally, Maseco LLP purchased a new position in shares of Applied Industrial Technologies during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Company Profile

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.