Why Applied Industrial Technologies (AIT) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
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 sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 0% and up 6.1% over the past one-week and four-week period, respectively, and Applied Industrial Technologies has gained 33.4% in the last one-year period as well. Additionally, an average of 221,395.55 shares were traded over the last 20 trading sessions.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.08 to $9.51 per share. AIT boasts an average earnings surprise of 10.4%.
Investors should take the time to consider AIT for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
