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

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

NYSE AIT opened at $82.52 on Thursday. The business’s 50-day moving average price is $78.90 and its 200 day moving average price is $66.65. Applied Industrial Technologies has a twelve month low of $30.66 and a twelve month high of $85.00. The company has a market capitalization of $3.20 billion, a PE ratio of 168.41 and a beta of 1.47. The company has a current ratio of 2.74, a quick ratio of 1.86 and a debt-to-equity ratio of 0.90.

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, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.25. Applied Industrial Technologies had a return on equity of 16.31% and a net margin of 0.64%. The firm had revenue of $747.81 million for the quarter, compared to the consensus estimate of $726.11 million. Equities analysts predict that Applied Industrial Technologies will post 3.44 EPS for the current year.

In other news, Director Vincent K. Petrella sold 1,465 shares of the stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $79.80, for a total value 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 legal filing with the SEC, which is available through this link. Also, Director Peter C. Wallace sold 4,600 shares of the stock in a transaction dated 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. Over the last 90 days, insiders sold 6,765 shares of company stock worth $521,591. Company insiders own 2.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Strs Ohio lifted its position in Applied Industrial Technologies by 2.3% in the 3rd quarter. Strs Ohio now owns 96,600 shares of the industrial products company’s stock valued at $5,322,000 after acquiring an additional 2,200 shares in the last quarter. Keybank National Association OH boosted its position in shares of Applied Industrial Technologies by 1.4% in the 3rd quarter. Keybank National Association OH now owns 22,075 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 300 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth about $4,764,000. Two Sigma Advisers LP boosted its position in shares of Applied Industrial Technologies by 3.7% in the 2nd quarter. Two Sigma Advisers LP now owns 24,600 shares of the industrial products company’s stock worth $1,535,000 after buying an additional 875 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Applied Industrial Technologies by 183.7% in the 3rd quarter. Squarepoint Ops LLC now owns 9,096 shares of the industrial products company’s stock worth $501,000 after buying an additional 5,890 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Applied Industrial Technologies

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.

Featured Article: CD Ladder

Stock Target Advisor

Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.