Zacks Investment Research lowered shares of Anixter International (NYSE:AXE) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Anixter is a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions and Utility Power Solutions. They help build, connect, protect and power valuable assets and critical infrastructures. From enterprise networks to industrial MRO supply to video surveillance applications to electric power distribution, they offer full-line solutions, and intelligence, that create reliable, resilient systems that sustain businesses and communities. Through their unmatched global distribution network along with their supply chain and technical expertise, they help lower the cost, risk and complexity of their customers’ supply chains. “

AXE has been the subject of several other reports. TheStreet upgraded Anixter International from a c+ rating to a b rating in a report on Wednesday, October 3rd. ValuEngine downgraded Anixter International from a sell rating to a strong sell rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Anixter International presently has an average rating of Hold and an average price target of $85.50.

NYSE AXE opened at $62.91 on Wednesday. Anixter International has a one year low of $56.25 and a one year high of $88.85. The stock has a market capitalization of $2.04 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.33 and a beta of 2.08. The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 0.58.

Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, October 23rd. The technology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.57 by $0.04. Anixter International had a return on equity of 12.90% and a net margin of 1.39%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company earned $1.30 EPS. Anixter International’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that Anixter International will post 5.75 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of Anixter International by 33.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the technology company’s stock valued at $185,000 after purchasing an additional 727 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Anixter International by 10.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,290 shares of the technology company’s stock valued at $588,000 after purchasing an additional 850 shares during the period. California Public Employees Retirement System grew its stake in shares of Anixter International by 1.1% during the 2nd quarter. California Public Employees Retirement System now owns 96,471 shares of the technology company’s stock valued at $6,107,000 after purchasing an additional 1,012 shares during the period. Rhumbline Advisers grew its stake in shares of Anixter International by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 76,793 shares of the technology company’s stock valued at $4,861,000 after purchasing an additional 1,117 shares during the period. Finally, IndexIQ Advisors LLC grew its stake in shares of Anixter International by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 30,010 shares of the technology company’s stock valued at $2,110,000 after purchasing an additional 1,132 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Anixter International Company Profile

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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