BidaskClub Downgrades Anixter International Inc. (AXE) to Sell
BidaskClub downgraded shares of Anixter International Inc. (NYSE:AXE) from a hold rating to a sell rating in a report issued on Monday, July 24th.
A number of other research firms have also recently issued reports on AXE. Zacks Investment Research raised Anixter International from a hold rating to a buy rating and set a $94.00 price objective for the company in a research report on Friday, April 28th. Wolfe Research assumed coverage on Anixter International in a report on Tuesday, July 11th. They set an outperform rating and a $88.00 target price on the stock. Finally, Wells Fargo & Company restated a market perform rating and set a $82.00 target price (down from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $86.00.
Shares of Anixter International (NYSE:AXE) traded down 0.70% during midday trading on Monday, reaching $71.05. The company’s stock had a trading volume of 144,369 shares. The stock has a 50-day moving average price of $77.60 and a 200 day moving average price of $79.14. The stock has a market capitalization of $2.36 billion, a PE ratio of 16.23 and a beta of 1.98. Anixter International has a 52 week low of $58.55 and a 52 week high of $88.00.
Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.36. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. Equities analysts forecast that Anixter International will post $5.35 earnings per share for the current year.
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In other news, VP William Standish sold 1,000 shares of Anixter International stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $77.55, for a total value of $77,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Samuel Zell acquired 526,277 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was acquired at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 556,277 shares of company stock worth $42,812,881 and have sold 3,000 shares worth $228,450. 14.70% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its position in Anixter International by 110.9% in the second quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock worth $106,000 after buying an additional 712 shares during the last quarter. Acrospire Investment Management LLC raised its position in Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock worth $127,000 after buying an additional 800 shares during the last quarter. Quantbot Technologies LP acquired a new position in Anixter International during the first quarter worth approximately $144,000. SG Americas Securities LLC acquired a new position in Anixter International during the second quarter worth approximately $158,000. Finally, Riverhead Capital Management LLC raised its position in Anixter International by 77.6% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock worth $167,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 86.64% 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).
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