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Hot Stocks
Applied Industrial Technologies CEO expects 'slow pace near term' » 06:35
08/12/20
08/12
06:35
08/12/20
06:35
AIT

Applied Industrial Technologies

$69.03 /

+0.38 (+0.55%)

Neil Schrimsher,…

Neil Schrimsher, Applied's President & CEO, commented, "As expected, demand was challenging throughout the quarter as customers in many of our core manufacturing end markets idled or reduced production capacity and facility utilization in response to the pandemic. Underlying trends remain subdued but are firming slightly into our fiscal 2021 first quarter with organic sales down mid-teens year-over-year through early August. While we believe the worst is behind us, visibility is limited and we expect a slow pace near term as customers gradually bring facilities back online and conservatively manage operations against a still fluid pandemic and macro outlook. Going forward, we will remain prudent and have reinforced recent cost actions, though with an offensive approach in mind as we position for the recovery and execute strategic initiatives aimed at optimizing our growth in coming years. We remain committed to our long-term financial targets of $4.5 billion in sales and 11% EBITDA margins. While the timing of these goals is dependent on the industrial cycle trajectory, I believe Applied's long-term growth and margin potential have never been stronger as our leading technical MRO position, service capabilities, and strategic direction further entrench our value across critical motion, power, and control infrastructure, as well as next generation industrial solutions."

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AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

07/02/20 Wells Fargo
Applied Industrial Technologies price target raised to $70 from $60 at Wells Fargo
01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

Earnings
Applied Industrial Technologies sees Q1 revenue down 17%-18% y/y » 06:32
08/12/20
08/12
06:32
08/12/20
06:32
AIT

Applied Industrial Technologies

$69.03 /

+0.38 (+0.55%)

Q1 consensus $734.52M.…

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ShowHide Related Items >><<
AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

07/02/20 Wells Fargo
Applied Industrial Technologies price target raised to $70 from $60 at Wells Fargo
01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

Earnings
Applied Industrial Technologies reports Q4 adjusted EPS 80c, consensus 68c » 06:30
08/12/20
08/12
06:30
08/12/20
06:30
AIT

Applied Industrial Technologies

$69.03 /

+0.38 (+0.55%)

Reports Q4 revenue…

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ShowHide Related Items >><<
AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

07/02/20 Wells Fargo
Applied Industrial Technologies price target raised to $70 from $60 at Wells Fargo
01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
AIT Applied Industrial Technologies
$69.03 /

+0.38 (+0.55%)

Over a month ago
Recommendations
Applied Industrial Technologies price target raised to $70 from $60 at Wells Fargo » 07:10
07/02/20
07/02
07:10
07/02/20
07:10
AIT

Applied Industrial Technologies

$61.04 /

-1.35 (-2.16%)

Wells Fargo analyst…

Wells Fargo analyst Michael McGinn raised the firm's price target on Applied Industrial Technologies to $70 from $60 and keeps an Overweight rating on the shares. While the analyst believes a re-steepening in the curve is more than an outside risk for the economy, Industrial Distribution is in decent shape to weather a second wave. Further, McGinn expects the risk-on mentality that has benefited the group since late March will remain intact. Additionally, management now seems more willing to give monthly and even weekly sales updates, he notes, adding that this is in stark contrast to Q1, where limited guidance left investors to fear for the worst and assume a continued deceleration and recovery more likely a Q3-Q4 event versus Q2.

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AIT Applied Industrial Technologies
$61.04 /

-1.35 (-2.16%)

AIT Applied Industrial Technologies
$61.04 /

-1.35 (-2.16%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc
AIT Applied Industrial Technologies
$61.04 /

-1.35 (-2.16%)

Over a quarter ago
Hot Stocks
Applied Industrial Technologies falls -10.2% » 09:47
04/30/20
04/30
09:47
04/30/20
09:47
AIT

Applied Industrial Technologies

$50.89 /

-6 (-10.55%)

Applied Industrial…

Applied Industrial Technologies is down -10.2%, or -$5.75 to $50.87.

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AIT Applied Industrial Technologies
$50.89 /

-6 (-10.55%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc
Earnings
Applied Industrial Technologies withdraws FY20 guidance  06:49
04/30/20
04/30
06:49
04/30/20
06:49
AIT

Applied Industrial Technologies

$56.89 /

+4.43 (+8.44%)

 
ShowHide Related Items >><<
AIT Applied Industrial Technologies
$56.89 /

+4.43 (+8.44%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc
Earnings
Applied Industrial Technologies withdraws FY20 guidance  06:49
04/30/20
04/30
06:49
04/30/20
06:49
AIT

Applied Industrial Technologies

$56.89 /

+4.43 (+8.44%)

 
ShowHide Related Items >><<
AIT Applied Industrial Technologies
$56.89 /

+4.43 (+8.44%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc
Earnings
Applied Industrial Technologies reports Q3 adjusted EPS $1.02, consensus $1.01 » 06:49
04/30/20
04/30
06:49
04/30/20
06:49
AIT

Applied Industrial Technologies

$56.89 /

+4.43 (+8.44%)

Reports Q3 revenue…

Reports Q3 revenue $830.8M, consensus $858.98M. CEO Neil Schrimsher said "We heightened our focus on cost control and cash generation during our Q3 given persistent weak industrial demand that was exacerbated by the initial impact from the COVID-19 pandemic in March. (...) We are classified as critical infrastructure, and our facilities remain open and operational as they adhere to health and safety policies. We have and will continue to implement proactive measures across our organization as we adapt to current conditions, while staying focused on serving customer requirements and our long-term strategic goals (...) we ended March in a positive liquidity position with over $165M of cash on hand following our strongest Q3 of free cash generation to-date, as well as approximately $250M of undrawn revolver capacity. We are focused on driving additional cash generation into our Q4, and encouraged by ongoing support across our banking relationships".

ShowHide Related Items >><<
AIT Applied Industrial Technologies
$56.89 /

+4.43 (+8.44%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc
Hot Stocks
Applied Industrial Technologies CEO says 'tepid demand industry-wide' » 06:36
01/23/20
01/23
06:36
01/23/20
06:36
AIT

Applied Industrial Technologies

$66.24 /

-0.21 (-0.32%)

Commenting on the…

Commenting on the results, Applied's President & CEO Neil Schrimsher said, "We are executing on our earnings commitments midway through fiscal 2020 despite tepid demand industry-wide, and are on track to achieve record free cash flow. In the current slow environment, we remain focused on expense control, leveraging our technical and cross-selling capabilities, and pursuing M&A that enhances our earnings and return potential long term. As we enter the second half of our fiscal year, we expect ongoing benefits from these internal initiatives. That said, end-market demand remains challenging and uncertain, with our recent quarter impacted by an unusually slow December. While likely impacted by typical seasonal variability this time of year, we expect subdued industry demand to persist near-term as customers slowly rebound from an evolving trade and industrial production backdrop. Our track record of cost control and cash generation is once again apparent and key in this type of environment, while our leading technical position across motion control, fluid power, flow control, and automation provides significant and differentiated long-term growth potential."

ShowHide Related Items >><<
AIT Applied Industrial Technologies
$66.24 /

-0.21 (-0.32%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc
Hot Stocks
Applied Industrial Technologies raises quarterly dividend to 32c per share » 06:34
01/23/20
01/23
06:34
01/23/20
06:34
AIT

Applied Industrial Technologies

$66.24 /

-0.21 (-0.32%)

Payable on February 28 to…

Payable on February 28 to shareholders of record on February 14. This represents the 11th dividend increase since 2010.

ShowHide Related Items >><<
AIT Applied Industrial Technologies
$66.24 /

-0.21 (-0.32%)

01/14/20 Wells Fargo
Applied Industrial Technologies upgraded to Overweight from Equal Weight at Wells Fargo
01/07/20 KeyBanc
NN, Inc. could 'benefit the most' from strategic divestiture, says KeyBanc
12/12/19 Baird
Applied Industrial Technologies initiated with an Outperform at Baird
12/11/19 KeyBanc
Applied Industrial Technologies price target raised to $75 from $70 at KeyBanc

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