Here's Why Applied Industrial Technologies (AIT) is a Strong Growth Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Applied Industrial Technologies (AIT)
Applied Industrial Technologies, Inc. is a distributor of value-added industrial products — including engineered fluid power components, bearings, specialty flow control solutions, power transmission products and miscellaneous industrial supplies. These products are mainly sold to original equipment manufacturers (OEM) and maintenance, repair, and operations (MRO) customers in Australia, North America, Singapore and New Zealand.
AIT is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 7.8% year-over-year for the current fiscal year, with sales growth of 2.8%.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.30 to $9.43 per share. AIT boasts an average earnings surprise of 13.9%.
Looking at cash flow, Applied Industrial Technologies is expected to report cash flow growth of 27% this year; AIT has generated cash flow growth of 15% over the past three to five years.
Investors should take the time to consider AIT for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
