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Applied Industrial Technologies Inc. (AIT) Is Now En Route to Higher Prices

Applied Industrial Technologies Inc. (NYSE: AIT) is -7.18% lower on its value in year-to-date trading and has touched a low of $80.93 and a high of $111.68 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AIT stock was last observed hovering at around $94.53 in the last trading session, with the day’s gains setting it 0.8%.

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Currently trading at $95.33, the stock is 1.90% and -2.76% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 94295.0 and changing 0.85% at the moment leaves the stock -4.46% off its SMA200. AIT registered 8.42% gain for a year compared to 6-month loss of -1.97%. The firm has a 50-day simple moving average (SMA 50) of $1.14 and a 200-day simple moving average (SMA200) of $10.83.

The stock witnessed a 5.44% gain in the last 1 month and extending the period to 3 months gives it a -4.84%, and is 6.17% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.25% over the week and 2.63% over the month.

Applied Industrial Technologies Inc. (AIT) has around 6008 employees, a market worth around $3.67B and $3.65B in sales. Current P/E ratio is 15.72 and Fwd P/E is 14.44. Profit margin for the company is 6.50%. Distance from 52-week low is 17.80% and -14.64% from its 52-week high. The company has generated returns on investments over the last 12 months (9.80%).

Applied Industrial Technologies Inc. (AIT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Applied Industrial Technologies Inc. (AIT) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 1 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Applied Industrial Technologies Inc. is expected to release its quarterly report on 10/26/2022.The EPS is expected to grow by 523.50% this year.

Applied Industrial Technologies Inc. (AIT) Top Institutional Holders

The shares outstanding are 38.45M, and float is at 37.89M with Short Float at 1.74%.

Applied Industrial Technologies Inc. (AIT) Insider Activity

A total of 34 insider transactions have happened at Applied Industrial Technologies Inc. (AIT) in the last six months, with sales accounting for 18 and purchases happening 16 times. The most recent transaction is an insider sale by Macey Christopher,the company’sCorporate Controller. SEC filings show that Macey Christopher sold 4,458 shares of the company’s common stock on May 26 at a price of $100.71 per share for a total of $0.45 million. Following the sale, the insider now owns 7358.0 shares.

Applied Industrial Technologies Inc. disclosed in a document filed with the SEC on May 17 that Wallace Peter C (Director) sold a total of 5,000 shares of the company’s common stock. The trade occurred on May 17 and was made at $108.47 per share for $0.54 million. Following the transaction, the insider now directly holds 19357.0 shares of the AIT stock.

Still, SEC filings show that on May 17, Schrimsher Neil A (President and CEO) disposed off 13,488 shares at an average price of $108.20 for $1.46 million. The insider now directly holds 274,213 shares of Applied Industrial Technologies Inc. (AIT).

Applied Industrial Technologies Inc. (AIT): Who are the competitors?

The company’s main competitors (and peers) include W.W. Grainger Inc. (GWW) that is trading 5.11% up over the past 12 months and MSC Industrial Direct Co. Inc. (MSM) that is -8.56% lower over the same period. Curtiss-Wright Corporation (CW) is 17.64% up on the 1-year trading charts.

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