Anixter (AXE) Lifted to “Sell” at ValuEngine

ValuEngine upgraded shares of Anixter (NYSE:AXE) from a strong sell rating to a sell rating in a research note published on Saturday.

AXE has been the subject of several other reports. Zacks Investment Research cut Anixter from a hold rating to a sell rating in a research report on Friday, April 27th. TheStreet cut Anixter from a b- rating to a c+ rating in a research report on Wednesday, February 28th. Finally, Wells Fargo restated a market perform rating and set a $90.00 target price (up from $78.00) on shares of Anixter in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $90.00.

NYSE:AXE opened at $63.70 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 2.21. Anixter has a 52-week low of $63.20 and a 52-week high of $64.30. The firm has a market cap of $2.13 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.13 and a beta of 2.07.

Anixter (NYSE:AXE) last released its quarterly earnings data on Thursday, April 26th. The technology company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.13). Anixter had a net margin of 1.38% and a return on equity of 12.26%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. research analysts forecast that Anixter will post 5.66 earnings per share for the current year.

In other news, CEO Robert J. Eck sold 2,812 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $78.37, for a total value of $220,376.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Melvyn N. Klein acquired 2,000 shares of the business’s stock in a transaction dated Monday, April 30th. The stock was purchased at an average price of $58.90 per share, with a total value of $117,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,700 shares of company stock valued at $461,945 and have sold 27,212 shares valued at $2,066,724. 13.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AXE. Sit Investment Associates Inc. boosted its holdings in shares of Anixter by 27.9% in the 4th 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. Louisiana State Employees Retirement System boosted its holdings in shares of Anixter by 6.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the technology company’s stock worth $950,000 after purchasing an additional 800 shares in the last quarter. Strs Ohio boosted its holdings in shares of Anixter by 7.0% in the 4th quarter. Strs Ohio now owns 16,800 shares of the technology company’s stock worth $1,276,000 after purchasing an additional 1,100 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of Anixter by 14.8% in the 4th quarter. Peregrine Capital Management LLC now owns 126,417 shares of the technology company’s stock worth $9,608,000 after purchasing an additional 16,311 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Anixter in the 4th quarter worth about $543,000. Hedge funds and other institutional investors own 90.10% of the company’s stock.

About Anixter

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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