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TipRanksStock Market NewsAIT NewsApplied Tech (AIT) Gets a Buy Rating from Robert W. Baird
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Applied Tech (AIT) Gets a Buy Rating from Robert W. Baird

Robert W. Baird analyst David Manthey maintained a Buy rating on Applied Tech (AITResearch Report) on April 28 and set a price target of $129.00. The company’s shares closed last Friday at $104.69.

According to TipRanks.com, Manthey is a 5-star analyst with an average return of 13.4% and a 65.8% success rate. Manthey covers the Industrial Goods sector, focusing on stocks such as SiteOne Landscape Supply, Beacon Roofing Supply, and Builders Firstsource.

Currently, the analyst consensus on Applied Tech is a Moderate Buy with an average price target of $120.00, a 14.0% upside from current levels. In a report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $120.00 price target.

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Based on Applied Tech’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $877 million and net profit of $57.03 million. In comparison, last year the company earned revenue of $751 million and had a GAAP net loss of $5.33 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AIT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Applied Industrial Technologies, Inc. engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution and Fluid Power Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers. The Fluid Power Businesses segment consists of specialized regional companies that distribute fluid power components and operate shops to assemble fluid power systems and perform equipment repair. The company was founded by Joseph Bruening in January 1923 and is headquartered in Cleveland, OH.

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