Zacks Research Has Bullish Estimate for AIT FY2028 Earnings

Key Points

• Zacks Research raised Applied Industrial Technologies’ FY2028 EPS estimate to $12.80 from $12.77, above the current full-year consensus estimate of $11.96.
• Applied Industrial Technologies beat quarterly expectations with EPS of $3.17 versus $2.92 expected and revenue of $1.35 billion versus $1.29 billion; revenue increased 10.5% year over year. The company issued FY2027 EPS guidance of $11.65–$12.15.
• Analyst sentiment remains positive, with seven Buy ratings and a consensus price target of $400.00, while institutional investors own 93.52% of the company’s shares.

Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Investment analysts at Zacks Research boosted their FY2028 EPS estimates for shares of Applied Industrial Technologies in a research note issued on Thursday, September 17th. Zacks Research analyst Team now expects that the industrial products company will earn $12.80 per share for the year, up from their previous forecast of $12.77. 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 results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.92 by $0.25. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company earned $2.80 EPS. The business's revenue for the quarter 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.

Several other equities analysts have also commented on AIT. KeyCorp upped their price target on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Mizuho boosted their price objective on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, August 14th. DA Davidson upped their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Finally, Bank of America increased their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of "Buy" and a consensus price target of $400.00.

Applied Industrial Technologies Trading Up 0.6%

Shares of Applied Industrial Technologies stock opened at $317.08 on Friday. The stock has a 50 day moving average of $337.84 and a 200 day moving average of $312.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.53 and a beta of 0.83. Applied Industrial Technologies has a fifty-two week low of $238.34 and a fifty-two week high of $374.80.

Institutional Trading of Applied Industrial Technologies

Several hedge funds have recently made changes to their positions in AIT. Anchor Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $32,000. Global Retirement Partners LLC purchased a new position in Applied Industrial Technologies during the second quarter worth $37,000. Kilter Group LLC purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth about $40,000. Silvant Capital Management LLC purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter worth $54,000. Finally, Allworth Financial LP increased its stake in Applied Industrial Technologies by 121.6% in the fourth quarter. Allworth Financial LP now owns 339 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Insiders Place Their Bets

In related news, Director Peter Wallace sold 1,904 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was 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 approximately $7,782,346.55. The trade was a 7.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 directly owned 32,050 shares in the company, valued at approximately $11,380,955. The trade was 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.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies's payout ratio is presently 18.61%.

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.

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