Wells Fargo (NYSE:WFC) analyst Michael McGinn maintained a Buy rating on Applied Tech (NYSE:AIT) on Wednesday, setting a price target of $110, which is approximately 20.67% above the present share price of $91.16.
McGinn expects Applied Tech to post earnings per share (EPS) of $1.44 for the third quarter of 2021.
The current consensus among 2 TipRanks analysts is for a Moderate Buy rating of shares in Applied Tech, with an average price target of $107.
The analysts price targets range from a high of $110 to a low of $104.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $840.94 million and a net profit of $74.47 million. The company's market cap is $3.43 billion.
According to TipRanks.com, Wells Fargo analyst Michael McGinn is currently ranked with 2 stars on a 0-5 stars ranking scale, with an average return of 4.2% and a 42.11% success rate.
Applied Industrial Technologies , Inc. engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution and Fluid Power Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers. The Fluid Power Businesses segment consists of specialized regional companies that distribute fluid power components and operate shops to assemble fluid power systems and perform equipment repair. The company was founded by Joseph Bruening in January 1923 and is headquartered in Cleveland, OH.