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 issued to investors 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. “
Several other analysts also recently commented on AXE. BidaskClub downgraded shares of Anixter International from a hold rating to a sell rating in a report on Monday, July 24th. Robert W. Baird reiterated a hold rating and issued a $86.00 target price on shares of Anixter International in a report on Friday, September 1st. Wells Fargo & Company reiterated a market perform rating and issued a $82.00 target price (down previously from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Finally, Wolfe Research assumed coverage on shares of Anixter International in a report on Tuesday, July 11th. They issued an outperform rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Anixter International presently has a consensus rating of Hold and an average price target of $86.00.
Anixter International (NYSE:AXE) opened at 73.90 on Monday. The stock has a 50 day moving average of $74.90 and a 200-day moving average of $77.80. The company has a market cap of $2.46 billion, a P/E ratio of 16.88 and a beta of 1.98. Anixter International has a 12 month low of $58.55 and a 12 month high of $88.00.
Anixter International (NYSE:AXE) last announced its earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.36. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 earnings per share. Equities research analysts expect that Anixter International will post $5.35 EPS for the current year.
In related news, Director Samuel Zell purchased 526,277 shares of Anixter International stock in a transaction that occurred on Wednesday, July 26th. The stock was bought at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Standish sold 1,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $74.70, for a total transaction of $74,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 548,777 shares of company stock valued at $42,811,521 and have sold 3,000 shares valued at $228,450. 14.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Anixter International by 44,948.8% during 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. grew its position in Anixter International by 4.5% during 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. grew its position in Anixter International by 5.9% during 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 grew its position in Anixter International by 8.3% during 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 grew its position in Anixter International by 6.7% during 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.
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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