Zacks Research Has Optimistic Outlook of AIT FY2028 Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Research analysts at Zacks Research raised their FY2028 earnings per share (EPS) estimates for Applied Industrial Technologies in a report issued on Monday, September 21st. Zacks Research analyst Team now forecasts that the industrial products company will post earnings of $12.82 per share for the year, up from their prior estimate of $12.80. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

A number of other research analysts have also recently weighed in on AIT. Bank of America lifted their price objective on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a report on Friday, August 14th. Oppenheimer lifted their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. DA Davidson upped their price target on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Finally, Mizuho raised their price objective on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $400.00.

Applied Industrial Technologies Stock Performance

AIT opened at $333.93 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. The firm has a fifty day moving average price of $337.63 and a 200 day moving average price of $313.52. Applied Industrial Technologies has a 1 year low of $238.34 and a 1 year high of $374.80. The stock has a market cap of $12.27 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.65 and a beta of 0.83.

Insider Buying and Selling at Applied Industrial Technologies

In other news, Director Peter C. Wallace sold 1,904 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total transaction of $648,216.80. Following the completion of the sale, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David K. Wells sold 1,812 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. This trade represents a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $1,336,805,000. Norges Bank purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $125,044,000. Bank of New York Mellon Corp purchased a new position in shares of Applied Industrial Technologies in the second quarter valued at approximately $93,672,000. First Trust Advisors LP boosted its stake in shares of Applied Industrial Technologies by 34.3% in the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after acquiring an additional 249,961 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Applied Industrial Technologies in the second quarter worth approximately $70,948,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.