Applied Industrial Technologies, Inc. (NYSE:AIT) Stock Has Consensus Target Price of $400.00 According to Analysts

Key Points

• Analysts are bullish on Applied Industrial Technologies: Six of seven analysts rate the stock “buy” and one rates it “strong buy,” with an average 12-month price target of $400 versus a recent price of $333.96.
• The company exceeded quarterly expectations, reporting $3.17 in EPS versus the $2.92 consensus and $1.35 billion in revenue, up 10.5% year over year.
• Institutional investors own 93.52% of the stock, while two insiders recently sold shares; the company’s FY2027 EPS guidance is $11.65–$12.15.

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report) have been assigned an average rating of "Buy" from the seven brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $400.00.

A number of research firms recently issued reports on AIT. Bank of America increased their target price on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Sunday. DA Davidson upped their price target on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 14th. Weiss Ratings raised shares of Applied Industrial Technologies from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday. Finally, Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th.

Insider Buying and Selling at Applied Industrial Technologies

In related news, Director Peter Wallace sold 1,904 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the completion of the transaction, the director directly owned 22,859 shares of the company's stock, valued at approximately $7,782,346.55. This represents a 7.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Wells sold 1,812 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value 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. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP boosted its position in Applied Industrial Technologies by 89.0% during the first quarter. Quantinno Capital Management LP now owns 10,182 shares of the industrial products company's stock valued at $2,702,000 after purchasing an additional 4,794 shares during the last quarter. Hsbc Holdings PLC grew its stake in Applied Industrial Technologies by 34.1% in the second quarter. Hsbc Holdings PLC now owns 27,891 shares of the industrial products company's stock valued at $9,410,000 after purchasing an additional 7,092 shares in the last quarter. Van Hulzen Asset Management LLC acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $2,341,000. WINTON GROUP Ltd acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $5,286,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $8,916,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $333.96 on Tuesday. The stock's fifty day simple moving average is $336.32 and its 200 day simple moving average is $320.43. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $12.27 billion, a PE ratio of 30.47, a PEG ratio of 2.69 and a beta of 0.85. Applied Industrial Technologies has a 12 month low of $238.34 and a 12 month high of $374.80.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.25. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $2.80 earnings per share. Applied Industrial Technologies's revenue was up 10.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, research analysts predict that Applied Industrial Technologies will post 11.96 EPS for the current year.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is a distributor and value-added service provider of industrial products and engineered solutions. The company supplies products used to maintain, repair and operate manufacturing, processing, infrastructure and other industrial facilities, including bearings, power-transmission components, fluid-power equipment, industrial motion products, automation technologies, safety products and related supplies.

In addition to distributing products from leading manufacturers, Applied Industrial Technologies provides technical support, engineering, fabrication, repair and maintenance services.

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