Applied Industrial Technologies (NYSE:AIT) Price Target Raised to $90.00 at KeyCorp


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Applied Industrial Technologies (NYSE:AIT) had its price target upped by analysts at KeyCorp from $85.00 to $90.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective points to a potential upside of 9.06% from the company’s previous close.

A number of other equities analysts also recently commented on AIT. Zacks Investment Research downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating and set a $87.00 price objective for the company. in a research report on Tuesday. BidaskClub downgraded Applied Industrial Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Applied Industrial Technologies has an average rating of “Buy” and an average target price of $81.00.

NYSE AIT opened at $82.52 on Thursday. The company has a market cap of $3.20 billion, a P/E ratio of 168.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.74 and a quick ratio of 1.86. The stock has a 50-day moving average of $78.90 and a two-hundred day moving average of $66.65. Applied Industrial Technologies has a 1-year low of $30.66 and a 1-year high of $85.00.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Monday, November 2nd. The industrial products company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.25. The company had revenue of $747.81 million during the quarter, compared to the consensus estimate of $726.11 million. Applied Industrial Technologies had a return on equity of 16.31% and a net margin of 0.64%. On average, analysts anticipate that Applied Industrial Technologies will post 3.44 EPS for the current fiscal year.

In related news, Director Vincent K. Petrella sold 1,465 shares of the business’s stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $79.80, for a total transaction of $116,907.00. Following the completion of the sale, the director now owns 17,226 shares in the company, valued at $1,374,634.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Wallace sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, November 19th. The shares were sold at an average price of $76.30, for a total value of $350,980.00. Following the completion of the sale, the director now owns 19,744 shares of the company’s stock, valued at approximately $1,506,467.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,765 shares of company stock valued at $521,591. 2.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Investment Advisory LLC lifted its stake in Applied Industrial Technologies by 56.6% in the third quarter. Harbor Investment Advisory LLC now owns 531 shares of the industrial products company’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. Hall Laurie J Trustee purchased a new stake in shares of Applied Industrial Technologies during the third quarter worth approximately $30,000. ELM Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth approximately $78,000. Sowell Financial Services LLC raised its stake in shares of Applied Industrial Technologies by 24.6% during the fourth quarter. Sowell Financial Services LLC now owns 2,449 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 484 shares during the last quarter. Finally, Martin Capital Partners LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth approximately $213,000. Institutional investors own 89.66% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power & Flow Control.

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