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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2 min read

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

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.

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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 #3 (Hold) rating. Its bottom-line is projected to rise 30.4% year-over-year for 2023, while Wall Street anticipates its top line to improve by 14.6%.

Two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.24 to $8.58 per share for 2023. AIT boasts an average earnings surprise of 18.1%.

On a historic basis, Applied Industrial Technologies has generated cash flow growth of 15.4%, and is expected to report cash flow expansion of 7% this year.

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

To read this article on Zacks.com click here.

Zacks Investment Research