Loop Capital analyst Chris Dankert maintains $Applied Industrial Technologies (AIT.US)$ with a buy rating, and adjusts the target price from $230 to $270.
According to TipRanks data, the analyst has a success rate of 72.9% and a total average return of 14.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Applied Industrial Technologies (AIT.US)$'s main analysts recently are as follows:
The firm's neutral stance on Applied Industrial Technologies remains despite the company's fiscal Q1 adjusted EPS surpassing forecasts. This outlook is rooted in the expectation of long-term secular growth, notwithstanding the present challenges in the macro environment and the restrained capital deployment observed post-COVID. The adjustment in the target is influenced by the re-rating observed amongst peers.
Applied Industrial Technologies is considered well-positioned to capitalize on accelerating industrial production while an improving product mix is contributing to margin expansion. Additionally, strategic capital deployment is expected to provide further enhancements to earnings. Although current guidance is cautious, anticipating some incremental demand reduction into the second quarter, it is based on the expectation of generally stable market conditions for the latter half of the year.
Following Applied Industrial Technologies' fiscal Q1 results and the slight increase in EPS guidance, there's a perception that management has kept a suitable level of caution regarding full-year revenue and margin forecasts. However, initial positive signs seen in order activity, especially within the Automation and Technology sectors, may suggest potential for the company's FY25 guidance and consensus estimates to surpass expectations.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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