Applied Industrial Technologies (NYSE:AIT) Earning Positive Press Coverage, Accern Reports
News headlines about Applied Industrial Technologies (NYSE:AIT) have trended positive on Thursday, according to Accern. The research firm identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Applied Industrial Technologies earned a media sentiment score of 0.50 on Accern’s scale. Accern also gave media stories about the industrial products company an impact score of 100 out of 100, meaning that recent news coverage is extremely likely to have an impact on the stock’s share price in the near term.
AIT has been the topic of several analyst reports. BidaskClub downgraded Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Zacks Investment Research downgraded Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $63.00 price objective (down previously from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Applied Industrial Technologies currently has an average rating of “Hold” and a consensus price target of $65.50.
Shares of Applied Industrial Technologies (NYSE:AIT) traded down 1.35% on Thursday, hitting $55.00. The stock had a trading volume of 233,141 shares. Applied Industrial Technologies has a 12-month low of $43.50 and a 12-month high of $69.00. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 20.22 and a beta of 0.95. The stock has a 50 day moving average price of $58.51 and a 200-day moving average price of $61.01.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, August 11th. Applied Industrial Technologies’s payout ratio is currently 42.65%.
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Applied Industrial Technologies Company Profile
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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