Stock Buzzer: After Making 52-Week High, Is Applied Industrial Technologies’s Near-Term Analysis Positive?

Stock Buzzer: After Making 52 Week High, Is Applied Industrial Technologies's Near Term Analysis Positive?

The stock of Applied Industrial Technologies (NYSE:AIT) hit a new 52-week high and has $62.58 target or 5.00% above today’s $59.60 share price. The 5 months bullish chart indicates low risk for the $2.35 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $62.58 price target is reached, the company will be worth $117.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 31,065 shares traded hands. Applied Industrial Technologies (NYSE:AIT) has risen 30.61% since April 21, 2016 and is uptrending. It has outperformed by 25.28% the S&P500.

Analysts await Applied Industrial Technologies (NYSE:AIT) to report earnings on January, 26. They expect $0.59 earnings per share, down 3.28% or $0.02 from last year’s $0.61 per share. AIT’s profit will be $23.34 million for 25.28 P/E if the $0.59 EPS becomes a reality. After $0.70 actual earnings per share reported by Applied Industrial Technologies for the previous quarter, Wall Street now forecasts -15.71% negative EPS growth.

Applied Industrial Technologies (NYSE:AIT) Ratings Coverage

Out of 3 analysts covering Applied Industrial Technologies (NYSE:AIT), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Applied Industrial Technologies has been the topic of 4 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Applied Industrial Technologies (NYSE:AIT) earned “Underperform” rating by Longbow on Wednesday, August 12. The firm has “Hold” rating given on Monday, October 26 by BB&T Capital. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Tuesday, July 21. Avondale maintained it with “Market Perform” rating and $44 target price in Monday, March 21 report.

According to Zacks Investment Research, “Applied Industrial Technologies is one of North America’s leading distributors of bearings, linear technologies, power transmission components, rubber products, specialty maintenance items and electrical/mechanical and fluid power products and systems to the MRO (maintenance and repair operations) and OEM (original equipment manufacturer) markets. The company offers products to a broad cross-section of U.S. industries.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.13, from 1.07 in 2016Q1. The ratio is negative, as 15 funds sold all Applied Industrial Technologies shares owned while 61 reduced positions. 25 funds bought stakes while 56 increased positions. They now own 31.62 million shares or 4.50% less from 33.11 million shares in 2016Q1.
Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 801 shares or 0% of the stock. Fifth Third Retail Bank holds 17,965 shares or 0.01% of its portfolio. Orca Inv Management Limited holds 55,167 shares or 2.43% of its portfolio. Amalgamated Bankshares reported 4,297 shares or 0.01% of all its holdings. Great West Life Assurance Com Can accumulated 3,438 shares or 0% of the stock. The Maryland-based Proshare Advisors Ltd Liability Corp has invested 0% in Applied Industrial Technologies (NYSE:AIT). Arizona State Retirement System last reported 20,281 shares in the company. Hutchin Hill Capital L P has 20,600 shares for 0.03% of their US portfolio. First Mercantile, a Tennessee-based fund reported 2,910 shares. Sei Invs Communications reported 3 shares or 0% of all its holdings. Blackrock Ltd Liability Co owns 237,649 shares or 0.01% of their US portfolio. Lucus Advsrs Ltd Liability last reported 0.29% of its portfolio in the stock. The Pennsylvania-based Tfs Cap Ltd has invested 0.15% in Applied Industrial Technologies (NYSE:AIT). Moreover, Value Lp has 2.86% invested in Applied Industrial Technologies (NYSE:AIT) for 98,570 shares. Louisiana State Employees Retirement Systems last reported 0.04% of its portfolio in the stock.

Insider Transactions: Since November 9, 2016, the stock had 0 insider buys, and 3 insider sales for $683,464 net activity. HILTZ L THOMAS also sold $272,164 worth of Applied Industrial Technologies (NYSE:AIT) on Thursday, November 10. Another trade for 4,233 shares valued at $228,370 was made by BAUER FRED D on Wednesday, November 9. $182,930 worth of Applied Industrial Technologies (NYSE:AIT) shares were sold by DORSMAN PETER A.

More important recent Applied Industrial Technologies (NYSE:AIT) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Jabil Circuit, Applied Industrial Technologies and MAXIMUS” on November 08, 2016, also Seekingalpha.com published article titled: “Applied Industrial Technologies (AIT) Q1 2017 Results – Earnings Call Transcript”, Nasdaq.com published: “Applied Industrial Technologies, Inc. (AIT) Ex-Dividend Date Scheduled for …” on November 09, 2016. More interesting news about Applied Industrial Technologies (NYSE:AIT) was released by: Seekingalpha.com and their article: “Applied Industrial Technologies (AIT) Neil A. Schrimsher on Q3 2016 Results …” with publication date: April 28, 2016.

AIT Company Profile

Applied Industrial Technologies, Inc., incorporated on September 6, 1988, is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and activities (MRO), and original equipment manufacturing (OEM) clients 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. The Firm also provides product-related technical application support and solutions to help clients manage their production downtime, machine performance, and overall procurement and maintenance costs. It operates in two divisions: service center distribution and fluid power businesses. The service center distribution segment provides clients with a range of industrial products primarily through a network of service centers. The fluid power businesses segment consists of specialized regional companies that distribute fluid power components, design and assemble fluid power systems and perform equipment repair. The fluid power businesses primarily sell services and products directly to clients rather than through the service centers. The Company’s field operating structure is built on two platforms: service center distribution and fluid power businesses.

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