Applied Industrial TechnologiesNYSE: AIT

Applied Industrial (AIT) is poised to gain from its business strength, acquisitions and initiatives to drive operational excellence.

We have narrowed our search to five general industrial manufacturing stocks with strong potential for 2024. These stocks are: AIT, TNC, CR, IR, FLS.

We have narrowed our search to five general industrial manufacturing stocks with strong potential for 2024. These stocks are: AIT, IR, CR, XYL, FLS.

Washington DC, June 06, 2024 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR), the inventor and licensor of patented SPD-Smart film light-control technology, and AIT Group, a fully-integrated premier manufacturer of advanced functional glass solutions, and licensee of Research Frontiers' technology, announced today the introduction of a breakthrough retrofittable SPD-SmartGlass window. Introducing the Thermolite RetroWAL SPD system! This innovative product will be unveiled for the first time at the AIA Expo 2024 in Washington, DC, from June 6-7, 2024, at Booth 720.

Business spending on equipment is rebounding, which is driving orders for durable goods. This is likely to benefit stocks like Applied Industrial Technologies, Inc. (AIT), Eaton Corporation plc (ETN), Lakeland Industries, Inc. (LAKE) and AZZ Inc. (AZZ).

Applied Industrial (AIT) is set to benefit from solid momentum in the Service Center Based Distribution segment. AIT's measures to reward its shareholders are encouraging.

Applied Industrial Technologies is expected to experience a reacceleration in revenue growth due to improving short-cycle indicators and easing year-over-year comparisons. The company's strong balance sheet positions it well for potential mergers and acquisitions, complementing its organic growth. The stock is trading at a discount compared to its peers, suggesting potential for a P/E multiple re-rating.

Applied Industrial Technologies (AIT) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Currently is a favorable moment to invest in these three industrial products stocks, as they all have an average broker recommendation of 1.0 on a scale from 1 to 5 (Strong Buy to Strong Sell).