Anixter International Inc. (AXE) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Anixter International Inc. (NYSE:AXE) from a sell rating to a hold rating in a research note published on Tuesday.
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 analysts have also commented on the company. BidaskClub lowered Anixter International from a sell rating to a strong sell rating in a report on Saturday, August 5th. Wells Fargo & Company reiterated a market perform rating and set a $82.00 price target (down from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Finally, Wolfe Research assumed coverage on Anixter International in a report on Tuesday, July 11th. They set an outperform rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $86.00.
Shares of Anixter International (NYSE:AXE) opened at 73.00 on Tuesday. The stock has a 50 day moving average of $75.86 and a 200 day moving average of $78.30. The firm has a market cap of $2.43 billion, a P/E ratio of 16.68 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 issued its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.36. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. Anixter International’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $1.32 earnings per share. Equities analysts forecast that Anixter International will post $5.35 earnings per share for the current year.
In other Anixter International news, VP William Standish sold 1,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was 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 SEC, which can be accessed through this hyperlink. Also, Director Samuel Zell bought 526,277 shares of the stock in a transaction on Wednesday, July 26th. The stock was purchased 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 acquired 543,277 shares of company stock worth $42,810,541 and sold 3,000 shares worth $228,450. Insiders own 14.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Anixter International by 44,948.8% in the first quarter. BlackRock Inc. now owns 3,703,911 shares of the technology company’s stock valued at $293,721,000 after buying an additional 3,695,689 shares during the period. Vanguard Group Inc. boosted its position in shares of Anixter International by 4.5% in the second quarter. Vanguard Group Inc. now owns 2,949,688 shares of the technology company’s stock valued at $230,666,000 after buying an additional 126,313 shares during the period. Alliancebernstein L.P. boosted its position in shares of Anixter International by 5.9% in the second quarter. Alliancebernstein L.P. now owns 1,456,881 shares of the technology company’s stock valued at $113,928,000 after buying an additional 81,578 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Anixter International by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,315,781 shares of the technology company’s stock valued at $102,894,000 after buying an additional 100,300 shares during the period. Finally, Fiduciary Management Inc. WI boosted its position in shares of Anixter International by 6.7% in the first quarter. Fiduciary Management Inc. WI now owns 1,196,538 shares of the technology company’s stock valued at $94,885,000 after buying an additional 75,105 shares during the period. Institutional investors own 85.58% of the company’s stock.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock 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 stocks with our FREE daily email newsletter.