TheStreet upgraded shares of Anixter International (NYSE:AXE) from a c+ rating to a b- rating in a research note issued to investors on Wednesday.
A number of other equities research analysts have also recently weighed in on AXE. Zacks Investment Research cut Anixter International from a hold rating to a sell rating in a report on Thursday, October 26th. ValuEngine raised Anixter International from a hold rating to a buy rating in a report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $86.00.
Anixter International (AXE) opened at $78.50 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 0.87. Anixter International has a 52 week low of $62.40 and a 52 week high of $88.60. The company has a market capitalization of $2,611.85, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.37 and a beta of 2.03.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.21). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.06 billion. Anixter International had a net margin of 1.86% and a return on equity of 12.52%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. equities research analysts predict that Anixter International will post 5.13 EPS for the current year.
In related news, CEO Robert J. Eck sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $825,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William Standish sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $86.20, for a total value of $86,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,532 shares of company stock worth $1,262,866. Corporate insiders own 14.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. raised its holdings in Anixter International by 27.9% during the fourth quarter. Sit Investment Associates Inc. now owns 53,861 shares of the technology company’s stock worth $4,093,000 after purchasing an additional 11,750 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Anixter International during the third quarter worth approximately $552,000. Convergence Investment Partners LLC bought a new stake in Anixter International during the third quarter worth approximately $1,457,000. OxFORD Asset Management LLP raised its holdings in Anixter International by 136.2% during the third quarter. OxFORD Asset Management LLP now owns 10,876 shares of the technology company’s stock worth $928,000 after purchasing an additional 6,272 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Anixter International by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,379,703 shares of the technology company’s stock worth $117,275,000 after purchasing an additional 63,922 shares in the last quarter. 87.90% of the stock is currently owned by hedge funds and other institutional investors.
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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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