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Applied Industrial Technologies (AIT) Gains But Lags Market: What You Should Know
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Applied Industrial Technologies (AIT - Free Report) closed the most recent trading day at $126.92, moving +1.69% from the previous trading session. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 7.84%.
Prior to today's trading, shares of the industrial products company had lost 5.8% over the past month. This has lagged the Industrial Products sector's loss of 2.37% 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.
AIT's full-year Zacks Consensus Estimates are calling for earnings of $7.52 per share and revenue of $4.13 billion. These results would represent year-over-year changes of +14.29% and +8.26%, respectively.
Investors might also notice recent changes to analyst estimates for Applied Industrial Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Applied Industrial Technologies currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Applied Industrial Technologies is holding a Forward P/E ratio of 16.6. This represents a discount compared to its industry's average Forward P/E of 20.04.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Applied Industrial Technologies (AIT) Gains But Lags Market: What You Should Know
Applied Industrial Technologies (AIT - Free Report) closed the most recent trading day at $126.92, moving +1.69% from the previous trading session. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 7.84%.
Prior to today's trading, shares of the industrial products company had lost 5.8% over the past month. This has lagged the Industrial Products sector's loss of 2.37% 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.
AIT's full-year Zacks Consensus Estimates are calling for earnings of $7.52 per share and revenue of $4.13 billion. These results would represent year-over-year changes of +14.29% and +8.26%, respectively.
Investors might also notice recent changes to analyst estimates for Applied Industrial Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Applied Industrial Technologies currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Applied Industrial Technologies is holding a Forward P/E ratio of 16.6. This represents a discount compared to its industry's average Forward P/E of 20.04.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.