Applied Industrial Technologies Raised to Neutral at Longbow Research (AIT)
Resource from: The Legacy Likes:196
Aug 17,2015
Longbow Research upgraded shares of Applied Industrial Technologies (NYSE:AIT) from an underperform rating to a neutral rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Applied Industrial Technologies (NYSE:AIT) traded up 1.22% on Wednesday, reaching $40.77. The company’s stock had a trading volume of 249,830 shares. The stock’s 50 day moving average is $39.06 and its 200-day moving average is $41.86. The firm has a market capitalization of $1.63 billion and a PE ratio of 14.56. Applied Industrial Technologies has a 52 week low of $37.15 and a 52 week high of $50.00.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.70 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.73 by $0.03. The business earned $677.50 million during the quarter, compared to the consensus estimate of $683.60 million. Applied Industrial Technologies’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Analysts predict that Applied Industrial Technologies will post $2.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.08 annualized dividend and a yield of 2.65%.
Other analysts have also recently issued research reports about the company. Zacks upgraded Applied Industrial Technologies from a sell rating to a hold rating in a research note on Tuesday, June 16th. KeyBanc initiated coverage on Applied Industrial Technologies in a research note on Tuesday, July 21st. They set a sector weight rating on the stock.
Applied Industrial Technologies Inc. is a distributor and supplier of industrial products. The Company’s industry products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and other industrial and maintenance supplies. 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. The Company operates in two segments: service center-based distribution and fluid power businesses. Service center-based distribution provides customers with a range of industrial products through a network of service centers. Fluid power businesses consist of regional companies that distribute fluid power components and operate shops to assemble fluid power systems and perform equipment repair.
(The Legacy)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
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