Zacks Investment Research downgraded shares of Anixter International (NYSE:AXE) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

Several other analysts have also issued reports on the stock. TheStreet lowered shares of Anixter International from a b- rating to a c+ rating in a research note on Monday, December 10th. ValuEngine upgraded shares of Anixter International from a strong sell rating to a sell rating in a research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Anixter International currently has an average rating of Hold and an average price target of $85.50.

NYSE AXE opened at $57.08 on Wednesday. Anixter International has a 1 year low of $56.25 and a 1 year high of $88.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.60 and a quick ratio of 0.90. The firm has a market capitalization of $1.91 billion, a PE ratio of 10.00, a PEG ratio of 1.24 and a beta of 2.07.

Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, October 23rd. The technology company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.04. Anixter International had a net margin of 1.39% and a return on equity of 12.90%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Anixter International will post 5.75 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of Anixter International by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 182,240 shares of the technology company’s stock worth $11,536,000 after buying an additional 11,254 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Anixter International by 19.6% in the 2nd quarter. Federated Investors Inc. PA now owns 61,915 shares of the technology company’s stock worth $3,919,000 after buying an additional 10,135 shares during the last quarter. Bridgewater Associates LP purchased a new position in shares of Anixter International in the 2nd quarter worth about $208,000. Mutual of America Capital Management LLC boosted its holdings in shares of Anixter International by 17.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 60,037 shares of the technology company’s stock worth $3,800,000 after buying an additional 8,785 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of Anixter International in the 3rd quarter worth about $2,046,000. 88.93% of the stock is currently owned by institutional investors.

About Anixter International

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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