Somewhat Positive Press Coverage Somewhat Unlikely to Affect Applied Industrial Technologies (AIT) Stock Price
Headlines about Applied Industrial Technologies (NYSE:AIT) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Applied Industrial Technologies earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the industrial products company an impact score of 46.3485127063569 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Shares of Applied Industrial Technologies (AIT) opened at $61.80 on Friday. The stock has a market cap of $2,400.00, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13. Applied Industrial Technologies has a 12 month low of $54.00 and a 12 month high of $70.05.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. The company had revenue of $680.70 million for the quarter, compared to the consensus estimate of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. Applied Industrial Technologies’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. equities analysts forecast that Applied Industrial Technologies will post 3.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, November 14th. Applied Industrial Technologies’s payout ratio is 32.58%.
Several research firms have recently commented on AIT. BidaskClub raised shares of Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $66.00.
In related news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $55.91, for a total transaction of $276,139.49. Following the sale, the vice president now owns 106,090 shares of the company’s stock, valued at $5,931,491.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.
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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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