Robert W. Baird Increases Applied Industrial Technologies (NYSE:AIT) Price Target to $250.00

Applied Industrial Technologies (NYSE:AIT) had its price target boosted by research analysts at Robert W. Baird from $210.00 to $250.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target would indicate a potential upside of 6.32% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They issued a “neutral” rating for the company. KeyCorp upped their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Bank of America assumed coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They issued a “neutral” rating and a $232.00 target price for the company. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Loop Capital raised their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.17.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $235.15 on Wednesday. Applied Industrial Technologies has a 12 month low of $149.59 and a 12 month high of $235.61. The company’s fifty day moving average price is $211.07 and its two-hundred day moving average price is $199.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. The firm has a market capitalization of $9.08 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 EPS. On average, research analysts anticipate that Applied Industrial Technologies will post 9.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies 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 sale, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,927 shares of company stock valued at $2,439,116. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. QRG Capital Management Inc. lifted its holdings in Applied Industrial Technologies by 0.9% in the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after purchasing an additional 55 shares during the period. Miller Howard Investments Inc. NY raised its position in shares of Applied Industrial Technologies by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after buying an additional 55 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its stake in shares of Applied Industrial Technologies by 1.2% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock worth $969,000 after acquiring an additional 59 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Applied Industrial Technologies by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after acquiring an additional 61 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Applied Industrial Technologies by 2.6% during the first quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 62 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

About Applied Industrial Technologies

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.