Zacks Research Has Bullish Outlook for AIT FY2028 Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Investment analysts at Zacks Research boosted their FY2028 earnings per share (EPS) estimates for Applied Industrial Technologies in a note issued to investors on Monday, September 21st. Zacks Research analyst Team now forecasts that the industrial products company will earn $12.82 per share for the year, up from their previous forecast of $12.80. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share.

A number of other research firms also recently issued reports on AIT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. Mizuho increased their target price on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Bank of America raised their price target on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, August 14th. DA Davidson boosted their price target on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Buy” and a consensus price target of $400.00.

Applied Industrial Technologies Trading Down 0.5%

NYSE AIT opened at $320.20 on Tuesday. The firm has a market capitalization of $11.76 billion, a P/E ratio of 29.22, a PEG ratio of 2.58 and a beta of 0.83. The business has a fifty day simple moving average of $337.46 and a 200 day simple moving average of $312.75. Applied Industrial Technologies has a 12 month low of $238.34 and a 12 month high of $374.80. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.25. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

Insider Activity

In other news, Director Peter C. Wallace sold 1,904 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total transaction of $648,216.80. Following the completion of the transaction, the director directly owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This represents a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David K. Wells sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the sale, the chief financial officer owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. The trade was a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter worth about $125,044,000. Quantinno Capital Management LP grew its stake in Applied Industrial Technologies by 89.0% during the first quarter. Quantinno Capital Management LP now owns 10,182 shares of the industrial products company’s stock valued at $2,702,000 after acquiring an additional 4,794 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Applied Industrial Technologies by 40.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 21,572 shares of the industrial products company’s stock valued at $5,539,000 after acquiring an additional 6,254 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in Applied Industrial Technologies by 29.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 17,800 shares of the industrial products company’s stock worth $4,723,000 after acquiring an additional 4,000 shares during the period. Finally, Van Hulzen Asset Management LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $2,341,000. 93.52% of the stock is owned by institutional investors.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.