Research Analysts Offer Predictions for AIT Q4 Earnings

Key Points

• Zacks Research raised its Q4 EPS forecast for Applied Industrial Technologies to $3.53 from $3.51, while the full-year consensus estimate stands at $11.96 per share.
• AIT recently beat quarterly expectations, reporting $3.17 EPS versus the $2.92 consensus and $1.35 billion in revenue, up 10.5% year over year. Analysts maintain a consensus “Buy” rating with a $400 price target.
• Shares opened at $330.08, while institutional investors own 93.52% of the stock; several insiders, including the CFO and a director, recently sold shares.

Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Research analysts at Zacks Research upped their Q4 2028 earnings per share (EPS) estimates for Applied Industrial Technologies in a research report issued on Monday, September 21st. Zacks Research analyst Team now forecasts that the industrial products company will post earnings per share of $3.53 for the quarter, up from their previous forecast of $3.51. The consensus estimate for Applied Industrial Technologies' current full-year earnings is $11.96 per share.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations 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 revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

Several other brokerages have also issued reports on AIT. Mizuho increased their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Robert W. Baird raised their price objective on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $400.00.

Applied Industrial Technologies Stock Up 3.0%

Shares of NYSE AIT opened at $330.08 on Wednesday. The firm has a fifty day simple moving average of $337.51 and a two-hundred day simple moving average of $313.10. The firm has a market capitalization of $12.12 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. Applied Industrial Technologies has a 12 month low of $238.34 and a 12 month high of $374.80.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Peter Wallace sold 1,904 shares of the business'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 sale, the director owned 22,859 shares in the company, valued at $7,782,346.55. The trade was a 7.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Wells sold 1,812 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the sale, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several hedge funds have recently made changes to their positions in AIT. Norges Bank acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $125,044,000. Quantinno Capital Management LP boosted its stake in shares of Applied Industrial Technologies by 89.0% in the first quarter. Quantinno Capital Management LP now owns 10,182 shares of the industrial products company's stock worth $2,702,000 after acquiring an additional 4,794 shares during the last quarter. Van Hulzen Asset Management LLC acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at $2,341,000. Hillsdale Investment Management Inc. grew its holdings in shares of Applied Industrial Technologies by 29.0% during the first quarter. Hillsdale Investment Management Inc. now owns 17,800 shares of the industrial products company's stock worth $4,723,000 after buying an additional 4,000 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Applied Industrial Technologies during the 1st quarter valued at about $2,309,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

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