The stock of Applied Industrial Technologies (NYSE:AIT) reached all time high today, Nov, 10 and still has $90.64 target or 68.00% above today’s $53.95 share price. This indicates more upside for the $2.21B company. This technical setup was reported by Barchart.com. If the $90.64 PT is reached, the company will be worth $1.50B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.47% or $0.78 during the last trading session, hitting $53.95. About 343,925 shares traded hands or 79.28% up from the average. Applied Industrial Technologies (NYSE:AIT) has risen 22.85% since April 8, 2016 and is uptrending. It has outperformed by 17.20% 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 firm has “Hold” rating by BB&T Capital given on Monday, October 26. KeyBanc Capital Markets initiated the stock with “Sector Weight” rating in Tuesday, July 21 report. The stock of Applied Industrial Technologies (NYSE:AIT) earned “Market Perform” rating by Avondale on Monday, March 21. The rating was upgraded by Longbow on Wednesday, August 12 to “Underperform”.
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 fall, 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.
D E Shaw And last reported 27,847 shares in the company. Delta Limited Company last reported 0.17% of its portfolio in the stock. Kanawha Capital Limited Liability Com accumulated 0.05% or 6,500 shares. Moreover, Citigroup has 0% invested in Applied Industrial Technologies (NYSE:AIT) for 23,986 shares. New York State Common Retirement Fund accumulated 0% or 42,020 shares. Moreover, Arizona State Retirement Sys has 0.01% invested in Applied Industrial Technologies (NYSE:AIT) for 20,281 shares. The Tennessee-based First Mercantile has invested 0.02% in Applied Industrial Technologies (NYSE:AIT). Louisiana State Employees Retirement System last reported 0.04% of its portfolio in the stock. Blackrock Advisors Lc accumulated 0.01% or 237,649 shares. Kennedy reported 161,543 shares or 0.15% of all its holdings. Int Gp holds 0% or 27,486 shares in its portfolio. Caisse De Depot Et Placement Du Quebec holds 0.01% or 112,000 shares in its portfolio. The Pennsylvania-based Tfs Capital has invested 0.15% in Applied Industrial Technologies (NYSE:AIT). The California-based Schwab Charles Investment Incorporated has invested 0.01% in Applied Industrial Technologies (NYSE:AIT). Quantitative Systematic Strategies Limited Company accumulated 20,906 shares or 0.43% of the stock.
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 Forbes.com published article titled: “Applied Industrial Technologies Becomes Oversold”, 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) was released by: Seekingalpha.com and their article: “Applied Industrial Technologies (AIT) Q1 2017 Results – Earnings Call Transcript” with publication date: October 26, 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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