Applied Industrial Technologies with ticker code (AIT) have now 4 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 115 and 110 calculating the mean target price we have 112. Given that the stocks previous close was at 100.87 this would indicate that there is a potential upside of 11.0%. The 50 day moving average now sits at 102.02 and the 200 day MA is 94.86. The company has a market cap of $3,902m. Company Website: https://www.applied.com
The potential market cap would be $4,332m based on the market concensus.
Applied Industrial Technologies distributes industrial products in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, as well as other related supplies for general operational needs of customers’ machinery and equipment. It also operates fabricated rubber shops and service field crews that install, modify, and repair conveyor belts and rubber linings, as well as offer hose assemblies. In addition, the company provides equipment repair and technical support services. It distributes industrial products through a network of service centers. The company serves various industries, including agriculture and food processing, cement, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, life sciences, mining, oil and gas, primary metals, technology, transportation, and utilities, as well as to government entities. Applied Industrial Technologies was founded in 1923 and is headquartered in Cleveland, Ohio.
