Analysts forecast that Applied Industrial Technologies (NYSE:AIT) will announce earnings per share of $0.62 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Applied Industrial Technologies’ earnings. Applied Industrial Technologies reported earnings per share of $0.65 during the same quarter last year, which would suggest a negative year over year growth rate of 4.6%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, April 27th.
On average, analysts expect that Applied Industrial Technologies will report full year earnings of $2.60 per share for the current year. For the next financial year, analysts expect that the business will report earnings of $2.80 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, January 26th. The industrial products company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $608.10 million for the quarter, compared to analysts’ expectations of $602.34 million. Applied Industrial Technologies had a net margin of 1.31% and a return on equity of 15.34%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS.
Separately, Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, January 18th.
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Shares of Applied Industrial Technologies (NYSE:AIT) traded up 0.73% on Tuesday, hitting $61.95. 270,184 shares of the stock traded hands. Applied Industrial Technologies has a 52 week low of $42.63 and a 52 week high of $66.65. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 74.37 and a beta of 0.89. The stock has a 50 day moving average price of $61.09 and a 200-day moving average price of $58.20.
In other Applied Industrial Technologies news, Director L Thomas Hiltz sold 3,277 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $60.89, for a total transaction of $199,536.53. Following the transaction, the director now owns 14,217 shares of the company’s stock, valued at $865,673.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd A. Barlett sold 3,970 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $61.00, for a total transaction of $242,170.00. Following the transaction, the vice president now directly owns 17,799 shares in the company, valued at approximately $1,085,739. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,247 shares of company stock worth $564,867. Insiders own 4.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at $135,000. Envestnet Asset Management Inc. raised its stake in shares of Applied Industrial Technologies by 6.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,677 shares of the industrial products company’s stock worth $159,000 after buying an additional 161 shares in the last quarter. Flinton Capital Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth about $164,000. Pacad Investment Ltd. raised its stake in shares of Applied Industrial Technologies by 1,450.0% in the fourth quarter. Pacad Investment Ltd. now owns 3,100 shares of the industrial products company’s stock worth $184,000 after buying an additional 2,900 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Applied Industrial Technologies during the third quarter worth about $216,000. Hedge funds and other institutional investors own 89.31% of the company’s stock.
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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