Applied Industrial Technologies, Inc. AIT was a big mover last session, as the company saw its shares rise over 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $43.85 to $50.80 in the past one-month time frame.
The company has seen two positive revisions in the past one month, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Applied Industrial currently carries a Zacks Rank #2 (Buy).
Another favorably placed stock in the same industry is Ingersoll-Rand Plc IR, carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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