Here's Why Applied Industrial Technologies (AIT) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
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 boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Its bottom-line is projected to rise 7.7% year-over-year for 2024, while Wall Street anticipates its top line to improve by 3.1%.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.16 to $9.42 per share. AIT boasts an average earnings surprise of 10.4%.
Applied Industrial Technologies is also cash rich. The company has generated cash flow growth of 15%, and is expected to report cash flow expansion of 27% in 2024.
AIT should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
