Zacks Investment Research upgraded shares of Anixter International Inc. (NYSE:AXE) from a sell rating to a hold rating in a report released on Monday.
According to Zacks, “Anixter International Inc. is a leading global distributor of communication products used in building enterprise and service provider data, voice and video networks. In addition, Anixter is a leading distributor of specialty wire and cable products to original equipment manufacturers and to industrial companies for maintenance and repair operations. “
A number of other equities analysts have also recently commented on AXE. BidaskClub cut Anixter International from a hold rating to a sell rating in a report on Monday, July 24th. Robert W. Baird restated a hold rating and set a $86.00 price objective on shares of Anixter International in a research report on Friday, September 1st. Wells Fargo & Company restated a market perform rating and set a $82.00 price objective (down from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Finally, Wolfe Research assumed coverage on shares of Anixter International in a research report on Tuesday, July 11th. They set an outperform rating and a $88.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $86.00.
Anixter International (NYSE:AXE) opened at 76.60 on Monday. The firm has a market cap of $2.55 billion, a PE ratio of 17.50 and a beta of 1.98. The company’s 50 day moving average price is $74.43 and its 200 day moving average price is $77.69. Anixter International has a 52-week low of $58.90 and a 52-week high of $88.00.
Anixter International (NYSE:AXE) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, hitting analysts’ consensus estimates of $1.36. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company posted $1.32 earnings per share. Anixter International’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts predict that Anixter International will post $5.35 earnings per share for the current fiscal year.
In other Anixter International news, Director Samuel Zell purchased 526,277 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was bought at an average cost of $81.34 per share, for a total transaction of $42,807,371.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP William Standish sold 1,000 shares of Anixter International stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $77.55, for a total transaction of $77,550.00. The disclosure for this sale can be found here. Insiders have acquired 557,777 shares of company stock valued at $42,813,141 over the last 90 days. Company insiders own 14.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Anixter International by 1.3% in the second quarter. Amalgamated Bank now owns 3,973 shares of the technology company’s stock valued at $311,000 after buying an additional 51 shares in the last quarter. OxFORD Asset Management LLP raised its position in shares of Anixter International by 1.5% in the second quarter. OxFORD Asset Management LLP now owns 4,604 shares of the technology company’s stock valued at $360,000 after buying an additional 68 shares in the last quarter. US Bancorp DE raised its position in shares of Anixter International by 1.6% in the second quarter. US Bancorp DE now owns 4,527 shares of the technology company’s stock valued at $354,000 after buying an additional 72 shares in the last quarter. Airain ltd raised its position in shares of Anixter International by 4.2% in the first quarter. Airain ltd now owns 3,634 shares of the technology company’s stock valued at $288,000 after buying an additional 146 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Anixter International by 1.4% in the first quarter. Arizona State Retirement System now owns 14,864 shares of the technology company’s stock valued at $1,179,000 after buying an additional 200 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.
Anixter International Company Profile
Anixter International Inc is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Company operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Anixter International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anixter International Inc. and related companies with our FREE daily email newsletter.