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Applied Industrial Technologies (AIT) Gains As Market Dips: What You Should Know
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In the latest trading session, Applied Industrial Technologies (AIT - Free Report) closed at $127.34, marking a +0.8% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Prior to today's trading, shares of the industrial products company had lost 2.76% over the past month. This has was narrower than the Industrial Products sector's loss of 3.13% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Applied Industrial Technologies as it approaches its next earnings report date. The company is expected to report EPS of $1.70, up 16.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $982.46 million, up 12.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.52 per share and revenue of $4.13 billion, which would represent changes of +14.29% and +8.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Applied Industrial Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant within the past month. Applied Industrial Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note Applied Industrial Technologies's current valuation metrics, including its Forward P/E ratio of 16.8. This valuation marks a discount compared to its industry's average Forward P/E of 20.24.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Applied Industrial Technologies (AIT) Gains As Market Dips: What You Should Know
In the latest trading session, Applied Industrial Technologies (AIT - Free Report) closed at $127.34, marking a +0.8% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Prior to today's trading, shares of the industrial products company had lost 2.76% over the past month. This has was narrower than the Industrial Products sector's loss of 3.13% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Applied Industrial Technologies as it approaches its next earnings report date. The company is expected to report EPS of $1.70, up 16.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $982.46 million, up 12.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.52 per share and revenue of $4.13 billion, which would represent changes of +14.29% and +8.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Applied Industrial Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant within the past month. Applied Industrial Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note Applied Industrial Technologies's current valuation metrics, including its Forward P/E ratio of 16.8. This valuation marks a discount compared to its industry's average Forward P/E of 20.24.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.