Last Updated: 19 Sep 2024
Executive Summary
Applied Industrial Technologies (AIT) is a leading distributor of industrial products with a strong financial performance and positive analyst outlook. The company's latest stock price of $214.87 is within the range of its 52-week high and low.
Company Overview
AIT distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers a wide range of products, including bearings, power transmission components, fluid power components, and safety products. AIT serves a diverse customer base, including manufacturers, construction companies, and energy companies.
Fundamental Analysis
AIT's financial performance has been strong in recent quarters. The company reported revenue growth of 0.002% year-over-year and earnings growth of 0.128% year-over-year in its latest quarter. AIT's profit margin is 0.0861, and its return on equity is 0.245. The company has a strong balance sheet with low debt levels.
Technical Analysis
AIT's stock price has been trending higher in recent months. The stock is currently trading above its 50-day and 200-day moving averages. The relative strength index (RSI) is above 50, indicating that the stock is not overbought.
Short Term Outlook
AIT's short-term outlook is positive. The company's strong financial performance and positive analyst outlook suggest that the stock could continue to rise in the near term. However, investors should be aware of the risks associated with investing in any stock, including the risk of a market downturn.
Long Term Outlook
AIT's long-term outlook is also positive. The company is well-positioned to benefit from the growth of the industrial sector. AIT's strong financial position and diverse customer base should allow the company to continue to grow in the years to come.
Analyst Recommendations
Analysts are generally positive on AIT. Two analysts have a "Strong Buy" rating on the stock, two have a "Buy" rating, and one has a "Hold" rating. The average analyst target price is $223, which represents a potential upside of 3.8% from the current stock price.
