Applied Industrial Technologies (NYSE:AIT) Coverage Initiated at DA Davidson

Key Points

• DA Davidson initiated coverage on Applied Industrial Technologies with a Buy rating and a $380 price target, implying about 20% upside from the current share price.
• The company’s latest quarterly results beat expectations, with EPS of $2.65 and revenue of $1.25 billion, both slightly ahead of analyst estimates and up 7.3% year over year.
• Analyst sentiment remains constructive overall: six Buy ratings and one Hold currently translate to a Moderate Buy consensus, with an average price target of $323.14.

Equities researchers at DA Davidson began coverage on shares of Applied Industrial Technologies (NYSE:AIT - Get Free Report) in a report released on Tuesday. The brokerage set a "buy" rating and a $380.00 price target on the industrial products company's stock. DA Davidson's price objective indicates a potential upside of 20.11% from the company's current price.

AIT has been the subject of several other reports. Oppenheimer lifted their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Wall Street Zen lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, KeyCorp boosted their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $323.14.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $316.38 on Tuesday. The stock's 50 day moving average is $302.23 and its 200 day moving average is $280.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The firm has a market cap of $11.69 billion, a P/E ratio of 29.87, a P/E/G ratio of 3.05 and a beta of 0.84. Applied Industrial Technologies has a one year low of $223.13 and a one year high of $326.41.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $2.57 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. As a group, research analysts expect that Applied Industrial Technologies will post 10.7 EPS for the current year.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares of the company's stock, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in Applied Industrial Technologies by 6.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,763 shares of the industrial products company's stock worth $998,000 after purchasing an additional 223 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in Applied Industrial Technologies by 15.5% during the 1st quarter. Segall Bryant & Hamill LLC now owns 110,642 shares of the industrial products company's stock worth $29,356,000 after purchasing an additional 14,863 shares in the last quarter. Verus Capital Partners LLC increased its holdings in Applied Industrial Technologies by 29.5% during the 1st quarter. Verus Capital Partners LLC now owns 1,081 shares of the industrial products company's stock worth $287,000 after purchasing an additional 246 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Applied Industrial Technologies by 6.2% during the 1st quarter. Janus Henderson Group PLC now owns 17,252 shares of the industrial products company's stock worth $4,579,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bull Harbor Capital LLC bought a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $624,000. 93.52% of the stock is owned by institutional investors.

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.

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