We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Applied Industrial Technologies (AIT) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Applied Industrial Technologies (AIT - Free Report) closed at $112.25 in the latest trading session, marking a +0.65% move from the prior day. This change lagged the S&P 500's 1.14% gain on the day. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.04%.
Applied Industrial Technologies will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. In that report, analysts expect Applied Industrial Technologies to post earnings of $1.64 per share. This would mark year-over-year growth of 20.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $987 million, up 10.69% from the year-ago period.
AIT's full-year Zacks Consensus Estimates are calling for earnings of $7.19 per share and revenue of $4.03 billion. These results would represent year-over-year changes of +9.27% and +5.75%, respectively.
Any recent changes to analyst estimates for Applied Industrial Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.51% lower within the past month. Applied Industrial Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Applied Industrial Technologies is holding a Forward P/E ratio of 15.51. Its industry sports an average Forward P/E of 16.74, so we one might conclude that Applied Industrial Technologies is trading at a discount comparatively.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Applied Industrial Technologies (AIT) Gains But Lags Market: What You Should Know
Applied Industrial Technologies (AIT - Free Report) closed at $112.25 in the latest trading session, marking a +0.65% move from the prior day. This change lagged the S&P 500's 1.14% gain on the day. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.04%.
Applied Industrial Technologies will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. In that report, analysts expect Applied Industrial Technologies to post earnings of $1.64 per share. This would mark year-over-year growth of 20.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $987 million, up 10.69% from the year-ago period.
AIT's full-year Zacks Consensus Estimates are calling for earnings of $7.19 per share and revenue of $4.03 billion. These results would represent year-over-year changes of +9.27% and +5.75%, respectively.
Any recent changes to analyst estimates for Applied Industrial Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.51% lower within the past month. Applied Industrial Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Applied Industrial Technologies is holding a Forward P/E ratio of 15.51. Its industry sports an average Forward P/E of 16.74, so we one might conclude that Applied Industrial Technologies is trading at a discount comparatively.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.