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TheStreet Wire

Applied Industrial Stock Hits New 52-Week High (AIT)

By TheStreet Wire 02/02/12 - 10:50 AM EST

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NEW YORK (TheStreet) -- Applied Industrial Technologies (NYSE:AIT) hit a new 52-week high Thursday as it is currently trading at $39.82, above its previous 52-week high of $39.77 with 66,909 shares traded as of 10:29 a.m. ET. Average volume has been 254,700 shares over the past 30 days.

Applied Industrial has a market cap of $1.67 billion and is part of the services sector and wholesale industry. Shares are up 11.6% year to date as of the close of trading on Wednesday.

Applied Industrial Technologies, Inc. distributes industrial products for maintenance, repair, and operational needs of machinery and equipment in the United States, Canada, and Mexico. The company has a P/E ratio of 16.2, below the average wholesale industry P/E ratio of 16.8 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Applied Industrial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Applied Industrial Ratings Report.

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