Applied Industrial Stock Drops 7.8% Following Q2 Earnings and Sales Misses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: moomoo
- Stock Performance: Applied Industrial shares fell by 7.8% following the release of their Q2 financial results.
- Financial Results: The company's profits and sales were reported to be below market estimates.
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Analyst Views on AIT
Wall Street analysts forecast AIT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AIT is 297.50 USD with a low forecast of 290.00 USD and a high forecast of 305.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 256.260
Low
290.00
Averages
297.50
High
305.00
Current: 256.260
Low
290.00
Averages
297.50
High
305.00
About AIT
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Company’s segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Applied Industrial Stock Drops 7.8% Following Q2 Earnings and Sales Misses
- Stock Performance: Applied Industrial shares fell by 7.8% following the release of their Q2 financial results.
- Financial Results: The company's profits and sales were reported to be below market estimates.
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