Price Don’t Lie: What’s Next for Applied Industrial Technologies After Touching Record High?

Price Don't Lie: What's Next for Applied Industrial Technologies After Touching Record High?

The stock of Applied Industrial Technologies (NYSE:AIT) reached all time high today, Nov, 30 and still has $63.60 target or 6.00% above today’s $60.00 share price. This indicates more upside for the $2.33B company. This technical setup was reported by Barchart.com. If the $63.60 PT is reached, the company will be worth $139.80 million 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. About 47,118 shares traded hands. Applied Industrial Technologies (NYSE:AIT) has risen 29.01% since April 27, 2016 and is uptrending. It has outperformed by 23.78% the S&P500.

Analysts await Applied Industrial Technologies (NYSE:AIT) to report earnings on January, 26. They expect $0.59 EPS, down 3.28% or $0.02 from last year’s $0.61 per share. AIT’s profit will be $22.91 million for 25.42 P/E if the $0.59 EPS becomes a reality. After $0.70 actual EPS 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 rating was initiated by KeyBanc Capital Markets with “Sector Weight” on Tuesday, July 21. The rating was downgraded by BB&T Capital on Monday, October 26 to “Hold”. The stock of Applied Industrial Technologies (NYSE:AIT) earned “Underperform” rating by Longbow on Wednesday, August 12. Avondale maintained the stock with “Market Perform” rating 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 2016 Q2. Its down 0.13, from 1.07 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.
Bancorp Of Montreal Can holds 0% or 35,565 shares in its portfolio. Seizert Partners Limited Liability Corp accumulated 0.09% or 54,649 shares. Credit Suisse Ag accumulated 56,533 shares or 0% of the stock. State Street Corporation has 0% invested in the company for 760,269 shares. Pub Sector Pension Inv Board has invested 0.01% of its portfolio in Applied Industrial Technologies (NYSE:AIT). Thrivent Fincl For Lutherans last reported 0.01% of its portfolio in the stock. California State Teachers Retirement accumulated 0.01% or 76,171 shares. D E Shaw And holds 27,847 shares or 0% of its portfolio. Northern Tru Corporation last reported 0.01% of its portfolio in the stock. Blackrock Grp Incorporated Ltd accumulated 52,244 shares or 0% of the stock. Keybank National Association Oh accumulated 0.01% or 40,800 shares. Hsbc Holding Public Limited accumulated 6,896 shares or 0% of the stock. Metropolitan Life Co New York accumulated 26,918 shares or 0.01% of the stock. Texas Permanent School Fund holds 0.02% or 29,841 shares in its portfolio. Tiaa Cref Investment Mngmt accumulated 0.01% or 166,271 shares.

Insider Transactions: Since November 9, 2016, the stock had 0 buys, and 3 selling transactions for $683,464 net activity. HILTZ L THOMAS had sold 5,000 shares worth $272,164. Another trade for 4,233 shares valued at $228,370 was made by BAUER FRED D on Wednesday, November 9. 3,378 shares were sold by DORSMAN PETER A, worth $182,930.

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 Reuters.com with their article: “BRIEF-Applied Industrial Technologies reports Q1 EPS $0.70” published on October 26, 2016, Seekingalpha.com published: “Applied Industrial Technologies (AIT) Q1 2017 Results – Earnings Call Transcript” on October 26, 2016. More interesting news about Applied Industrial Technologies (NYSE:AIT) were released by: Nasdaq.com and their article: “Applied Industrial Technologies, Inc. (AIT) Ex-Dividend Date Scheduled for …” published on November 09, 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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