Notable Mover: Is Applied Industrial Technologies’s Fuel Running Low? The Stock Reaches 52-Week High Today

Notable Mover: Is Applied Industrial Technologies's Fuel Running Low? The Stock Reaches 52 Week High Today

The stock of Applied Industrial Technologies (NYSE:AIT) hit a new 52-week high and has $69.23 target or 31.00% above today’s $52.85 share price. The 7 months bullish chart indicates low risk for the $2.09 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $69.23 price target is reached, the company will be worth $647.90 million 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 177,696 shares traded hands. Applied Industrial Technologies (NYSE:AIT) has risen 18.12% since April 7, 2016 and is uptrending. It has outperformed by 13.34% the S&P500.

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 “Market Perform” rating by Avondale on Monday, March 21. The company was downgraded on Monday, October 26 by BB&T Capital. Longbow upgraded Applied Industrial Technologies (NYSE:AIT) on Wednesday, August 12 to “Underperform” rating. KeyBanc Capital Markets initiated Applied Industrial Technologies (NYSE:AIT) on Tuesday, July 21 with “Sector Weight” rating.

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 1.07 in Q2 2016. Its down 0.43, from 1.5 in 2016Q1. The ratio dived, 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.
Tfs Ltd Liability Corp reported 18,278 shares or 0.15% of all its holdings. Assetmark accumulated 0% or 1,000 shares. Guyasuta Advisors has 0.23% invested in the company for 38,535 shares. Palisade Ltd Liability Nj has 0.89% invested in the company for 546,443 shares. Moreover, Royal Savings Bank Of Canada has 0.01% invested in Applied Industrial Technologies (NYSE:AIT) for 471,931 shares. Panagora Asset Mgmt last reported 0.06% of its portfolio in the stock. Zebra Mgmt Ltd last reported 0.21% of its portfolio in the stock. Balyasny Asset Mgmt Lc has 9,796 shares for 0% of their US portfolio. Ifrah Fincl Svcs, a Arkansas-based fund reported 4,886 shares. The Minnesota-based Pine River Limited Partnership has invested 0.01% in Applied Industrial Technologies (NYSE:AIT). Citigroup Inc accumulated 0% or 23,986 shares. Loomis Sayles L P accumulated 147 shares or 0% of the stock. Sit Investment Associate Incorporated reported 1,300 shares or 0% of all its holdings. Louisiana State Employees Retirement holds 17,300 shares or 0.04% of its portfolio. Bancorp Of New York Mellon, a New York-based fund reported 565,283 shares.

More notable 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 Forbes.com with their article: “Applied Industrial Technologies Becomes Oversold” published on October 25, 2016, Forbes.com published: “Ex-Dividend Reminder: Jabil Circuit, Applied Industrial Technologies and R.R …” on August 09, 2016. More interesting news about Applied Industrial Technologies (NYSE:AIT) were released by: Seekingalpha.com and their article: “Applied Industrial Technologies (AIT) Q1 2017 Results – Earnings Call Transcript” published on October 26, 2016 as well as Seekingalpha.com‘s news article titled: “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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