Anixter International Inc. (AXE) Trading Up 5.1%
Shares of Anixter International Inc. (NYSE:AXE) were up 5.1% on Friday . The company traded as high as $60.52 and last traded at $60.28, with a volume of 191,828 shares traded. The stock had previously closed at $57.38.
Several analysts have weighed in on AXE shares. Zacks Investment Research upgraded Anixter International from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Thursday, July 28th. Imperial Capital boosted their price objective on Anixter International from $49.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, April 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Anixter International presently has an average rating of “Buy” and a consensus price target of $75.00.
The firm has a market cap of $1.99 billion and a PE ratio of 25.06. The stock’s 50-day moving average is $57.02 and its 200-day moving average is $53.06.
Anixter International (NYSE:AXE) last released its earnings results on Tuesday, July 26th. The company reported $1.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.32. During the same quarter in the prior year, the business posted $1.15 EPS. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities analysts anticipate that Anixter International Inc. will post $4.80 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in AXE. Systematic Financial Management LP purchased a new position in Anixter International during the fourth quarter valued at $1,693,000. Comerica Bank boosted its position in Anixter International by 1.3% in the fourth quarter. Comerica Bank now owns 29,076 shares of the company’s stock valued at $1,513,000 after buying an additional 360 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Anixter International by 9.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 35,995 shares of the company’s stock valued at $2,174,000 after buying an additional 3,158 shares in the last quarter. Russell Frank Co boosted its position in Anixter International by 72.6% in the fourth quarter. Russell Frank Co now owns 41,112 shares of the company’s stock valued at $2,494,000 after buying an additional 17,292 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Anixter International by 4.1% in the fourth quarter. Rhumbline Advisers now owns 51,473 shares of the company’s stock valued at $3,108,000 after buying an additional 2,015 shares in the last quarter.
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 provides customers access to inventory management programs, over 270 warehouses and locations in approximately 300 cities across over 50 countries.
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