Applied Industrial Technologies (NYSE:AIT) Downgraded by Wall Street Zen to Hold

Applied Industrial Technologies (NYSE:AIT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also recently weighed in on the company. Mizuho set a $305.00 price target on Applied Industrial Technologies in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Finally, KeyCorp decreased their price target on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $260.10 on Friday. The company’s 50 day moving average price is $264.62 and its two-hundred day moving average price is $261.59. The firm has a market capitalization of $9.70 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.64 and a beta of 0.87. Applied Industrial Technologies has a fifty-two week low of $199.96 and a fifty-two week high of $286.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.50.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $2.39 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities analysts forecast that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied Industrial Technologies

Several large investors have recently modified their holdings of AIT. Torren Management LLC acquired a new position in Applied Industrial Technologies in the fourth quarter valued at $25,000. Smartleaf Asset Management LLC raised its position in shares of Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 89 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $29,000. Finally, Hantz Financial Services Inc. grew its stake in Applied Industrial Technologies by 2,033.3% during the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 122 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

About Applied Industrial Technologies

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.