Anixter International Inc. (AXE) Shares Gap Up to $61.76
Anixter International Inc. (NYSE:AXE)’s share price gapped up prior to trading on Monday . The stock had previously closed at $61.66, but opened at $61.76. Anixter International shares last traded at $63.62, with a volume of 45,944 shares changing hands.
Several research firms recently commented on AXE. Zacks Investment Research upgraded Anixter International from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Thursday, July 28th. Imperial Capital upped their target price on Anixter International from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Anixter International presently has a consensus rating of “Buy” and an average price target of $75.00.
The stock’s 50 day moving average price is $57.41 and its 200-day moving average price is $53.73. The stock has a market capitalization of $2.09 billion and a PE ratio of 26.26.
Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.32 earnings per share for the quarter, hitting the consensus estimate of $1.32. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. The business’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. On average, analysts forecast that Anixter International Inc. will post $4.80 EPS for the current year.
Other large investors recently added to or reduced their stakes in the company. Systematic Financial Management LP bought a new stake in Anixter International during the fourth quarter valued at $1,693,000. Comerica Bank raised its stake 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 raised its stake 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 raised its stake 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, Calvert Investment Management Inc. bought a new stake in Anixter International during the fourth quarter valued at $2,743,000.
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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