Applied Industrial Technologies (NYSE:AIT) – KeyCorp upped their FY2018 earnings per share estimates for shares of Applied Industrial Technologies in a research note issued to investors on Thursday. KeyCorp analyst S. Barger now expects that the industrial products company will earn $3.50 per share for the year, up from their prior estimate of $3.17.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.10. The firm 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%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS.

A number of other equities analysts also recently issued reports on AIT. ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Thursday, January 11th. Finally, Wellington Shields upgraded Applied Industrial Technologies to a “hold” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.50.

Applied Industrial Technologies (NYSE AIT) traded up $0.95 on Monday, reaching $71.15. 231,500 shares of the company’s stock were exchanged, compared to its average volume of 275,923. 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 cap of $2,761.70, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.76 and a beta of 0.93. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $71.75.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its stake in shares of Applied Industrial Technologies by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 1,198 shares during the period. Ameritas Investment Partners Inc. raised its stake in Applied Industrial Technologies by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 226 shares during the period. Hartford Investment Management Co. bought a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $207,000. Teacher Retirement System of Texas bought a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $212,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $223,000. Institutional investors own 87.91% of the company’s stock.

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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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