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Applied Industrial Technologies (AIT) Stock Moves -0.85%: What You Should Know
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The most recent trading session ended with Applied Industrial Technologies (AIT - Free Report) standing at $191.09, reflecting a -0.85% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 1.46%. At the same time, the Dow lost 1.24%, and the tech-heavy Nasdaq lost 1.63%.
The industrial products company's stock has climbed by 3.04% in the past month, falling short of the Industrial Products sector's gain of 3.91% and outpacing the S&P 500's gain of 1.6%.
Investors will be eagerly watching for the performance of Applied Industrial Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 25, 2024. The company is forecasted to report an EPS of $2.40, showcasing a 0.84% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.16 billion, up 2.35% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.49 per share and revenue of $4.53 billion, indicating changes of +8.46% and +2.6%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Applied Industrial Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.69% higher. Applied Industrial Technologies presently features a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Applied Industrial Technologies is at present trading with a Forward P/E ratio of 20.32. This expresses no noticeable deviation compared to the average Forward P/E of 20.32 of its industry.
It is also worth noting that AIT currently has a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Manufacturing - General Industrial stocks are, on average, holding a PEG ratio of 2.32 based on yesterday's closing prices.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Applied Industrial Technologies (AIT) Stock Moves -0.85%: What You Should Know
The most recent trading session ended with Applied Industrial Technologies (AIT - Free Report) standing at $191.09, reflecting a -0.85% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 1.46%. At the same time, the Dow lost 1.24%, and the tech-heavy Nasdaq lost 1.63%.
The industrial products company's stock has climbed by 3.04% in the past month, falling short of the Industrial Products sector's gain of 3.91% and outpacing the S&P 500's gain of 1.6%.
Investors will be eagerly watching for the performance of Applied Industrial Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 25, 2024. The company is forecasted to report an EPS of $2.40, showcasing a 0.84% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.16 billion, up 2.35% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.49 per share and revenue of $4.53 billion, indicating changes of +8.46% and +2.6%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Applied Industrial Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.69% higher. Applied Industrial Technologies presently features a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Applied Industrial Technologies is at present trading with a Forward P/E ratio of 20.32. This expresses no noticeable deviation compared to the average Forward P/E of 20.32 of its industry.
It is also worth noting that AIT currently has a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Manufacturing - General Industrial stocks are, on average, holding a PEG ratio of 2.32 based on yesterday's closing prices.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.