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Stock impact report

Applied Industrial (AIT) Reports Mixed Q2 Earnings, KeyBanc Maintains Overweight Rating [Yahoo! Finance]

Applied Industrial Technologies, Inc. (AIT) 
Last applied industrial technologies, inc. earnings: 4/30 06:30 am Check Earnings Report
US:NYSE Investor Relations: ir.applied.com/home
Company Research Source: Yahoo! Finance
target for Applied Industrial Technologies, Inc. (NYSE:AIT) to $300 from $310 on January 28, keeping an Overweight rating on the industrial equipment distributor. The drop came after what KeyBanc indicated as “mixed” fiscal second-quarter earnings and a lower EBITDA margin forecast from the company. Pixabay/Public Domain The company posted Q2 revenues of $1.16 billion, an 8.4% increase over the previous year, with organic growth adding 2.2%, acquisitions contributing 6%, and currency effects delivering a 0.2% boost. Meanwhile, net income totaled $95.3 million, with earnings per share of $2.51. KeyBanc noted higher LIFO (Last-In-First-Out) expenses during the quarter alongside volatile December demand trends as the key issues driving market reaction towards the earnings announcement. The firm highlighted that buy-side expectations were likely high ahead of the quarterly results. Applied Industrial Technologies, Inc. (NYSE:AIT) is a value-added distributor and technical solution Show less Read more
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