Anixter International (NYSE:AXE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Anixter is a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions and Utility Power Solutions. They help build, connect, protect and power valuable assets and critical infrastructures. From enterprise networks to industrial MRO supply to video surveillance applications to electric power distribution, they offer full-line solutions, and intelligence, that create reliable, resilient systems that sustain businesses and communities. Through their unmatched global distribution network along with their supply chain and technical expertise, they help lower the cost, risk and complexity of their customers’ supply chains. “

AXE has been the subject of several other reports. Longbow Research upgraded Anixter International from a “neutral” rating to a “buy” rating in a report on Friday, July 20th. ValuEngine upgraded Anixter International from a “strong sell” rating to a “sell” rating in a report on Friday, July 20th. Finally, TheStreet upgraded Anixter International from a “c+” rating to a “b” rating in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Anixter International presently has an average rating of “Hold” and a consensus target price of $85.50.

AXE traded up $1.76 during trading hours on Thursday, reaching $69.16. 128,484 shares of the company’s stock traded hands, compared to its average volume of 174,828. Anixter International has a 52-week low of $56.25 and a 52-week high of $88.85. The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.28 billion, a P/E ratio of 13.40, a PEG ratio of 1.48 and a beta of 2.08.

Anixter International (NYSE:AXE) last posted its quarterly earnings data on Tuesday, October 23rd. The technology company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.04. Anixter International had a return on equity of 12.90% and a net margin of 1.39%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business earned $1.30 EPS. Anixter International’s revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Anixter International will post 5.75 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its position in Anixter International by 150.9% during the second quarter. Pzena Investment Management LLC now owns 1,957,635 shares of the technology company’s stock worth $123,918,000 after purchasing an additional 1,177,446 shares in the last quarter. BlackRock Inc. lifted its holdings in Anixter International by 7.6% during the 2nd quarter. BlackRock Inc. now owns 4,031,318 shares of the technology company’s stock worth $255,183,000 after buying an additional 283,924 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Anixter International by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,239,549 shares of the technology company’s stock worth $78,464,000 after buying an additional 258,315 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Anixter International by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,851,384 shares of the technology company’s stock worth $117,193,000 after buying an additional 162,454 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Anixter International by 19.1% during the 3rd quarter. Fisher Asset Management LLC now owns 743,341 shares of the technology company’s stock worth $52,257,000 after buying an additional 119,152 shares during the last quarter. 91.56% of the stock is currently owned by institutional investors.

Anixter International Company Profile

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.

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