What is Zacks Research’s Estimate for AIT Q3 Earnings?

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities research analysts at Zacks Research raised their Q3 2028 earnings per share (EPS) estimates for Applied Industrial Technologies in a report issued on Thursday, September 17th. Zacks Research analyst Team now forecasts that the industrial products company will earn $3.22 per share for the quarter, up from their previous forecast of $3.20. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share.

Several other research firms have also issued reports on AIT. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Friday, August 14th. DA Davidson upped their price target on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Oppenheimer increased their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Applied Industrial Technologies has an average rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Trading Up 3.0%

Shares of AIT stock opened at $330.08 on Monday. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Applied Industrial Technologies has a fifty-two week low of $238.34 and a fifty-two week high of $374.80. The firm’s 50 day moving average price is $337.51 and its two-hundred day moving average price is $313.10.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

Hedge Funds Weigh In On Applied Industrial Technologies

Institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 3.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,508 shares of the industrial products company’s stock valued at $1,186,000 after buying an additional 117 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Applied Industrial Technologies by 9.1% in the second quarter. Tidal Investments LLC now owns 105,068 shares of the industrial products company’s stock worth $35,529,000 after buying an additional 8,801 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Applied Industrial Technologies in the second quarter valued at $5,286,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Applied Industrial Technologies in the second quarter valued at $220,000. Finally, Integrated Wealth Concepts LLC boosted its stake in Applied Industrial Technologies by 8.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,989 shares of the industrial products company’s stock valued at $1,349,000 after acquiring an additional 326 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In other news, CFO David Wells sold 1,812 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the sale, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Wallace sold 1,904 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total value of $648,216.80. Following the sale, the director directly owned 22,859 shares in the company, valued at approximately $7,782,346.55. The trade was a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.60% of the company’s stock.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.