Applied Industrial Technologies (NYSE:AIT) was upgraded by Wellington Shields from a “hold” rating to a “gradually accumulate” rating in a report issued on Wednesday.
A number of other equities analysts have also recently issued reports on AIT. Zacks Investment Research downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Applied Industrial Technologies has an average rating of “Hold” and an average price target of $67.00.
Shares of Applied Industrial Technologies (AIT) traded up $0.60 during trading on Wednesday, reaching $64.95. The company’s stock had a trading volume of 100,600 shares, compared to its average volume of 193,569. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. The company has a market cap of $2,530.00, a P/E ratio of 18.24, a P/E/G ratio of 1.68 and a beta of 0.93. Applied Industrial Technologies has a 52-week low of $54.00 and a 52-week high of $70.05.
Institutional investors and hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC grew its stake in shares of Applied Industrial Technologies by 57.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 1,198 shares during the period. Ameritas Investment Partners Inc. grew its position in Applied Industrial Technologies by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 226 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $207,000. Teacher Retirement System of Texas bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $212,000. Finally, Pacad Investment Ltd. grew its position in Applied Industrial Technologies by 28.6% during the 2nd quarter. Pacad Investment Ltd. now owns 3,600 shares of the industrial products company’s stock worth $213,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers 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.
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.