News articles about Applied Industrial Technologies (NYSE:AIT) have trended somewhat positive this week, Accern reports. The research group rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Applied Industrial Technologies earned a daily sentiment score of 0.06 on Accern’s scale. Accern also gave media coverage about the industrial products company an impact score of 46.2771712373062 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
Applied Industrial Technologies (AIT) opened at 65.85 on Thursday. The firm’s 50-day moving average price is $59.39 and its 200-day moving average price is $59.92. Applied Industrial Technologies has a 1-year low of $43.50 and a 1-year high of $69.00. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 19.37 and a beta of 0.95.
Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.56. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The firm had revenue of $681.47 million for the quarter, compared to analysts’ expectations of $680.20 million. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Industrial Technologies will post $3.11 earnings per share for the current year.
A number of brokerages have recently issued reports on AIT. Zacks Investment Research lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $63.00 price target (down from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. BidaskClub lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, ValuEngine lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $66.00.
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In related news, VP Mark O. Eisele sold 4,939 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $55.91, for a total value of $276,139.49. Following the completion of the sale, the vice president now directly owns 106,090 shares of the company’s stock, valued at $5,931,491.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark O. Eisele sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $56.11, for a total value of $336,660.00. Following the completion of the sale, the vice president now directly owns 153,029 shares of the company’s stock, valued at $8,586,457.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,571 shares of company stock worth $4,070,841. 3.70% of the stock is currently owned by insiders.
Applied Industrial Technologies Company Profile
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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