Applied Industrial Technologies Surpasses Analyst Price Target: What It Means for Investors
Recently, shares of Applied Industrial Technologies, Inc. (Symbol: AIT) have soared past the average analyst’s 12-month target price of $267.86, trading at $269.23 each. When a stock meets this target, analysts typically face two decisions: either to downgrade based on valuation or to increase their target price. Their choice often hinges on recent business developments that might have influenced the increase in stock price. If the company’s outlook is positive, it may be an opportune moment for an upward adjustment.
In total, there are seven analysts involved in the Zacks coverage for Applied Industrial Technologies. While the average price target serves as a useful benchmark, individual targets vary widely; one analyst has a target as low as $240.00, while another is much more optimistic, setting a target of $305.00. The standard deviation of these targets is $22.886, highlighting the range of opinions available.
The purpose of examining this average AIT price target lies in gathering a collective analysis, drawing from the insights of various experts rather than relying on the view of a single analyst. With AIT now trading above the average target price of $267.86/share, this development prompts investors to reassess the company’s prospects: is this just a stepping stone towards an even higher price point, or has the stock become overvalued? Below is a table summarizing current analyst opinions regarding Applied Industrial Technologies:
| Recent AIT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 5 | 4 | 4 | 4 |
| Buy ratings: | 1 | 1 | 1 | 0 |
| Hold ratings: | 2 | 2 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.63 | 1.71 | 1.5 | 1.4 |
The average rating in the table ranges from 1 (Strong Buy) to 5 (Strong Sell). This analysis utilized data from Zacks Investment Research via Quandl.com. For more information, access the latest Zacks research report on AIT — available for free.
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.
