What is Zacks Research's Forecast for AIT FY2028 Earnings?

Key Points

• Zacks Research raised its FY2028 EPS forecast for Applied Industrial Technologies to $12.82 from $12.80, above the current full-year consensus estimate of $11.96.
• Applied Industrial Technologies recently reported quarterly EPS of $3.17, beating expectations of $2.92, while revenue reached $1.35 billion and increased 10.5% year over year.
• Analyst sentiment remains positive: seven analysts rate the stock Buy, with an average price target of $400, while institutional investors own 93.52% of the shares.

Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Zacks Research upped their FY2028 earnings per share (EPS) estimates for shares of 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 - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.25. The company 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 quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

Other research analysts have also issued research reports about the stock. Mizuho raised their price target on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Bank of America increased their price objective on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. DA Davidson lifted their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Finally, Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $400.00.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $320.20 on Tuesday. The stock has a market capitalization of $11.76 billion, a PE ratio of 29.22, a PEG ratio of 2.58 and a beta of 0.83. The business's 50 day simple moving average is $337.46 and its 200 day simple moving average is $312.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. Applied Industrial Technologies has a one year low of $238.34 and a one year high of $374.80.

Insider Buying and Selling at Applied Industrial Technologies

In related news, Director Peter Wallace sold 1,904 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total transaction of $648,216.80. Following the transaction, the director directly owned 22,859 shares of the company's stock, valued at $7,782,346.55. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the sale, the chief financial officer directly owned 32,050 shares of the company's stock, valued at approximately $11,380,955. This trade represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Applied Industrial Technologies during the second quarter worth approximately $1,336,805,000. First Trust Advisors LP increased its stake in Applied Industrial Technologies by 34.3% during the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company's stock valued at $259,706,000 after purchasing an additional 249,961 shares in the last quarter. Capital International Investors increased its stake in Applied Industrial Technologies by 25.4% during the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company's stock valued at $247,250,000 after purchasing an additional 195,043 shares in the last quarter. Geode Capital Management LLC raised its holdings in Applied Industrial Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company's stock worth $176,479,000 after buying an additional 1,889 shares during the last quarter. Finally, Norges Bank acquired a new position in Applied Industrial Technologies during the fourth quarter worth $125,044,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.