Zacks Investment Research cut shares of Anixter International Inc. (NYSE:AXE) from a hold rating to a sell rating in a report published on Friday, July 14th.
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. “
Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Anixter International from a sell rating to a hold rating in a research report on Friday, June 16th. Wells Fargo & Company initiated coverage on shares of Anixter International in a research report on Tuesday, March 21st. They set a market perform rating for the company. Finally, Wolfe Research initiated coverage on shares of Anixter International in a research report on Tuesday, July 11th. They set an outperform rating and a $88.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $86.00.
Shares of Anixter International (NYSE AXE) opened at 77.50 on Friday. The company has a market capitalization of $2.58 billion, a PE ratio of 17.71 and a beta of 1.98. Anixter International has a 1-year low of $56.23 and a 1-year high of $88.00. The firm’s 50-day moving average price is $78.31 and its 200 day moving average price is $79.60.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting analysts’ consensus estimates of $1.36. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 EPS. Equities analysts predict that Anixter International will post $5.35 EPS for the current fiscal year.
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In related news, VP William Standish sold 1,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $76.20, for a total value of $76,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Eck sold 4,995 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $80.18, for a total transaction of $400,499.10. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 556,277 shares of company stock valued at $42,812,881 and sold 7,995 shares valued at $632,849. 14.70% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of AXE. Russell Investments Group Ltd. acquired a new stake in Anixter International during the fourth quarter valued at $2,927,000. State Board of Administration of Florida Retirement System increased its stake in Anixter International by 1.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,208 shares of the technology company’s stock valued at $1,152,000 after buying an additional 186 shares in the last quarter. Renaissance Technologies LLC increased its stake in Anixter International by 597.5% in the fourth quarter. Renaissance Technologies LLC now owns 27,900 shares of the technology company’s stock valued at $2,261,000 after buying an additional 23,900 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Anixter International during the fourth quarter valued at $1,420,000. Finally, Tudor Investment Corp Et Al acquired a new stake in Anixter International during the fourth quarter valued at $318,000. 87.04% of the stock is owned by institutional investors and hedge funds.
About Anixter International
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).
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