Applied Industrial Technologies (NYSE:AIT) has been upgraded to Hold in a report by Zacks Investment Research today.
- Updated: October 14, 2016
Zacks Investment Research has upgraded Applied Industrial Technologies (NYSE:AIT) to Hold in a report released on 10/14/2016.
Previously on Monday March 21, 2016, Avondale Partners reported on Applied Industrial Technologies (NYSE:AIT) increased the target price from $39.00 to $44.00. At the time, this indicated a possible upside of 0.06%.
Yesterday Applied Industrial Technologies (NYSE:AIT) traded -0.15% lower at $45.48. The company’s 50-day moving average is $46.74 and its 200-day moving average is $45.74. The last closing price is down -0.56% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 112,090 shares of the stock traded hands, down from an average trading volume of 152,318
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Applied Industrial Technologies has a 52 week low of $35.55 and a 52 week high of $48.61 with a P/E ratio of 60.64 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 3 brokers have issued a research note on the company. The average stock price target is $42.00 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Applied Industrial Technologies (NYSE:AIT)
Applied Industrial Technologies, Inc. is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services. It operates in two segments: service center-based distribution and fluid power businesses. The service center-based distribution segment provides customers with a range of industrial products primarily through a network of service centers. The fluid power businesses segment consists of specialized regional companies that distribute fluid power components, design and assemble fluid power systems, and perform equipment repair. The fluid power businesses primarily sell products and services directly to customers rather than through the service centers.
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