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Applied Industrial Technologies (AIT) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Applied Industrial Technologies (AIT - Free Report) closed at $127.71, marking a -0.91% move from the previous day. This change lagged the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Coming into today, shares of the industrial products company had lost 0.89% in the past month. In that same time, the Industrial Products sector gained 1.37%, while the S&P 500 gained 0.89%.
Applied Industrial Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.70, up 16.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $985.1 million, up 12.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.52 per share and revenue of $4.13 billion. These totals would mark changes of +14.29% and +8.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Applied Industrial Technologies currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Applied Industrial Technologies has a Forward P/E ratio of 17.14 right now. Its industry sports an average Forward P/E of 21.26, 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 131, putting it in the bottom 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Applied Industrial Technologies (AIT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Applied Industrial Technologies (AIT - Free Report) closed at $127.71, marking a -0.91% move from the previous day. This change lagged the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Coming into today, shares of the industrial products company had lost 0.89% in the past month. In that same time, the Industrial Products sector gained 1.37%, while the S&P 500 gained 0.89%.
Applied Industrial Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.70, up 16.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $985.1 million, up 12.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.52 per share and revenue of $4.13 billion. These totals would mark changes of +14.29% and +8.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Applied Industrial Technologies currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Applied Industrial Technologies has a Forward P/E ratio of 17.14 right now. Its industry sports an average Forward P/E of 21.26, 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 131, putting it in the bottom 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.