Zacks Research Has Bullish Forecast for AIT Q3 Earnings

Key Points

• Zacks Research raised its Q3 EPS forecast for Applied Industrial Technologies to $3.22 from $3.20, while full-year consensus EPS stands at $11.96.
• AIT recently exceeded expectations, reporting quarterly EPS of $3.17 versus the $2.92 consensus and revenue of $1.35 billion, up 10.5% year over year.
• Analyst sentiment remains bullish, with seven Buy ratings and a consensus price target of $400; institutional investors own 93.52% of the stock.

Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Equities researchers at Zacks Research lifted their Q3 2028 EPS estimates for Applied Industrial Technologies in a research note issued to investors on Thursday, September 17th. Zacks Research analyst Team now anticipates that the industrial products company will post earnings of $3.22 per share for the quarter, up from their prior forecast of $3.20. 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, beating 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 the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. DA Davidson boosted 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 note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. 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 report on Friday, August 14th. Finally, KeyCorp lifted their price target on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $400.00.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $321.09 on Monday. The business has a 50 day simple moving average of $337.65 and a 200 day simple moving average of $312.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. The company has a market capitalization of $11.79 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.58 and a beta of 0.83. Applied Industrial Technologies has a one year low of $238.34 and a one year high of $374.80.

Insiders Place Their Bets

In related news, Director Peter C. Wallace sold 1,904 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total value of $648,216.80. Following the completion of the sale, the director directly owned 22,859 shares in the company, valued at $7,782,346.55. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David K. Wells sold 1,812 shares of the business's 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 sale, the chief financial officer directly owned 32,050 shares of the company's stock, valued at $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently modified their holdings of AIT. Norges Bank acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $125,044,000. Quantinno Capital Management LP lifted its stake in 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 valued at $2,702,000 after buying an additional 4,794 shares during the period. PNC Financial Services Group Inc. lifted its stake in Applied Industrial Technologies by 40.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,572 shares of the industrial products company's stock valued at $5,539,000 after buying an additional 6,254 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in 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 during the last quarter. Finally, Van Hulzen Asset Management LLC bought a new position in Applied Industrial Technologies during the second quarter worth about $2,341,000. 93.52% of the stock is owned by 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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