Anixter International Inc. (NYSE:AXE) Stock Rating Lowered by BidaskClub
Anixter International Inc. (NYSE:AXE) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.
Several other analysts have also recently commented on the stock. Wolfe Research initiated coverage on shares of Anixter International in a research note on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price target on the stock. Zacks Investment Research cut shares of Anixter International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $82.00 price target (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Anixter International presently has an average rating of “Hold” and a consensus target price of $86.00.
Shares of Anixter International (NYSE:AXE) opened at 77.50 on Friday. Anixter International has a 12-month low of $57.96 and a 12-month high of $88.00. The stock’s 50 day moving average price is $78.31 and its 200-day moving average price is $79.60. The company has a market cap of $2.58 billion, a PE ratio of 17.71 and a beta of 1.98.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.36. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. Anixter International’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Anixter International will post $5.35 earnings per share for the current year.
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In related news, VP William Standish sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $76.20, for a total value of $76,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Samuel Zell acquired 526,277 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was acquired at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 556,277 shares of company stock worth $42,812,881 and sold 3,000 shares worth $232,350. Corporate insiders own 14.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its position in shares of Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock valued at $127,000 after buying an additional 800 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Anixter International during the first quarter valued at $144,000. SG Americas Securities LLC purchased a new stake in Anixter International during the second quarter valued at $158,000. Cigna Investments Inc. New purchased a new stake in Anixter International during the second quarter valued at $220,000. Finally, Invictus RG purchased a new stake in Anixter International during the first quarter valued at $230,000. Institutional investors and hedge funds own 86.46% of the company’s stock.
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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