Applied Industrial Technologies, Inc. (AIT) Scheduled to Post Quarterly Earnings on Tuesday
Applied Industrial Technologies, Inc. (NYSE:AIT) is scheduled to be announcing its earnings results before the market opens on Tuesday, October 24th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Applied Industrial Technologies has set its FY17 guidance at $3.00-3.20 EPS.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.56. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The company had revenue of $681.47 million during the quarter, compared to analyst estimates of $680.20 million. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, analysts expect Applied Industrial Technologies to post $3.08 EPS for the current fiscal year and $3.37 EPS for the next fiscal year.
Applied Industrial Technologies, Inc. (NYSE AIT) opened at 63.90 on Tuesday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 18.79 and a beta of 0.95. Applied Industrial Technologies, Inc. has a 52 week low of $43.50 and a 52 week high of $69.00. The company’s 50-day moving average price is $61.38 and its 200-day moving average price is $60.05.
Several research analysts have recently weighed in on AIT shares. Zacks Investment Research cut Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub upgraded Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Northcoast Research started coverage on Applied Industrial Technologies in a report on Tuesday, July 25th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $66.00.
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In related news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total value of $276,139.49. Following the transaction, the vice president now directly owns 106,090 shares in the company, valued at $5,931,491.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $56.11, for a total value of $336,660.00. Following the completion of the transaction, the vice president now owns 153,029 shares in the company, valued at $8,586,457.19. The disclosure for this sale can be found here. Insiders sold 73,571 shares of company stock worth $4,070,841 over the last quarter. 3.70% of the stock is currently owned by insiders.
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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