Applied Industrial Technologies (AIT) Scheduled to Post Earnings on Thursday

Applied Industrial Technologies (NYSE:AIT) will announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $2.24 per share for the quarter. Applied Industrial Technologies has set its FY 2025 guidance at 9.200-9.950 EPS and its FY25 guidance at $9.20-9.95 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $2.35 EPS. Applied Industrial Technologies’s revenue was up .2% on a year-over-year basis. On average, analysts expect Applied Industrial Technologies to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $234.39 on Thursday. Applied Industrial Technologies has a 52 week low of $149.59 and a 52 week high of $234.60. The stock has a market capitalization of $9.05 billion, a PE ratio of 24.57, a P/E/G ratio of 3.12 and a beta of 1.03. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $210.30 and a two-hundred day moving average of $199.47.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,927 shares of company stock worth $2,439,116. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Loop Capital boosted their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. KeyCorp increased their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Robert W. Baird raised their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Bank of America started coverage on Applied Industrial Technologies in a report on Monday, October 7th. They issued a “neutral” rating and a $232.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus target price of $236.17.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.