Applied Industrial Reaches New 52-Week High (AIT)

NEW YORK ( TheStreet) -- Applied Industrial Technologies (NYSE: AIT) hit a new 52-week high Thursday as it is currently trading at $38.39, above its previous 52-week high of $38.37 with 8,800 shares traded as of 10:43 a.m. ET. Average volume has been 268,200 shares over the past 30 days.

Applied Industrial has a market cap of $1.59 billion and is part of the services sector and wholesale industry. Shares are up 8.6% 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, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Applied Industrial as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Applied Industrial Ratings Report.

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