Equities analysts forecast that Applied Industrial Technologies (NYSE:AIT) will announce earnings per share of $0.71 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Applied Industrial Technologies’ earnings. The highest EPS estimate is $0.73 and the lowest is $0.69. Applied Industrial Technologies posted earnings of $0.61 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is expected to announce its next quarterly earnings report on Thursday, January 25th.

On average, analysts expect that Applied Industrial Technologies will report full year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $3.17 to $3.20. For the next fiscal year, analysts forecast that the firm will post earnings of $3.43 per share, with EPS estimates ranging from $3.40 to $3.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The business had revenue of $680.70 million during the quarter, compared to analysts’ expectations of $668.18 million. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year.

AIT has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Friday, December 8th. Finally, Wellington Shields upgraded shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.00.

Several institutional investors have recently modified their holdings of AIT. Riverhead Capital Management LLC increased its stake in shares of Applied Industrial Technologies by 57.0% during the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 1,198 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Applied Industrial Technologies by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 226 shares during the period. Hartford Investment Management Co. acquired a new position in shares of Applied Industrial Technologies during the third quarter worth about $207,000. Teacher Retirement System of Texas acquired a new position in shares of Applied Industrial Technologies during the third quarter worth about $212,000. Finally, Pacad Investment Ltd. increased its stake in shares of Applied Industrial Technologies by 28.6% during the second quarter. Pacad Investment Ltd. now owns 3,600 shares of the industrial products company’s stock worth $213,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 87.89% of the company’s stock.

Shares of Applied Industrial Technologies (NYSE AIT) traded down $0.40 during trading hours on Friday, hitting $70.00. 298,300 shares of the stock were exchanged, compared to its average volume of 252,640. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $70.70. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2,730.00, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.93.

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About Applied Industrial Technologies

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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