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Applied Industrial Technologies (AIT) has an average rating of overweight and mean price target of $341.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Applied Industrial Technologies (AIT) remains a top pick for investors looking to benefit from improving short and medium-cycle industrial demand, Oppenheimer said in a Friday note.The report said May's ISM Manufacturing Index corroborates its multi-faceted inflection profile in fiscal Q3."We are positive on the FY4Q/June quarter setup into FY27 guidance," the report said.The Engineered Solutions segment built backlog in recent quarters, with accelerating book-to-bill ratio in the past two quarters, the note said. The firm also observed shortening sales conversion cycles, particularly for Automation.The Service Center segment's organic sales grew 4.2% in fiscal Q3, while March and April orders hit high single digits, it said."AIT's clean financials and execution, plus track record ofastute expectations management, pair well with strong structuralmacro foundations for served markets," the note said.Oppenheimer kept its outperform rating and $350 price target.Price: $314.72, Change: $+1.04, Percent Change: +0.33%
