Wells Fargo Remains a Hold on Applied Tech (AIT)


In a report issued on December 6, Allison Poliniak from Wells Fargo maintained a Hold rating on Applied Tech (AIT). The company’s shares closed last Monday at $65.29, close to its 52-week high of $65.81.

According to TipRanks.com, Poliniak is a 3-star analyst with an average return of 3.7% and a 55.6% success rate. Poliniak covers the Services sector, focusing on stocks such as Anixter International, Kansas City Southern, and Wesco International.

Applied Tech has an analyst consensus of Moderate Buy, with a price target consensus of $70.00.

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Based on Applied Tech’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $38.8 million. In comparison, last year the company had a net profit of $48.94 million.

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Applied Industrial Technologies, Inc. engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution and Fluid Power Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.

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