AIT Stock Summary and Trading Ideas (Applied Industrial Techs | NYSE:AIT)

Applied Industrial Technologies Inc is a distributor of industrial products to the maintenance, repair, and operations market and the original equipment manufacturing industry. Further, the company provides engineering and design services for industrial and fluid power applications. The products include bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, safety products, oilfield supplies, and other industrial and maintenance supplies. The company's reportable segments are; Service Center Based Distribution which derives key revenue, and Engineered Solutions. Geographically, the company derives its key revenue from the United States and the rest from Canada and other countries.

Applied Industrial Techs trades on the NYSE stock market under the symbol AIT.

As of December 26, 2024, AIT stock price climbed to $244.44 with 144,961 million shares trading.

AIT has a beta of 1.41, meaning it tends to be more sensitive to market movements. AIT has a correlation of 0.38 to the broad based SPY ETF.

AIT has a market cap of $9.40 billion. This is considered a Mid Cap stock.

Last quarter Applied Industrial Techs reported $1 billion in Revenue and $2.36 earnings per share. This beat revenue expectation by $9 million and exceeded earnings estimates by $.11.

In the last 3 years, AIT traded as high as $282.98 and as low as $88.09.

The top ETF exchange traded funds that AIT belongs to (by Net Assets): VTI, IJH, VB, IWM, VBR.

AIT has outperformed the market in the last year with a return of +41.8%, while the SPY ETF gained +28.5%. In the last 3 month period, AIT beat the market returning +10.0%, while SPY returned +5.6%. However, in the most recent 2 weeks AIT has underperformed the stock market by returning -9.6%, while SPY returned +0.1%.

AIT support price is $239.52 and resistance is $247.50 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AIT shares will trade within this expected range on the day.