Shares of Anixter International Inc. (NYSE:AXE) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $86.00.
A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reiterated a “market perform” rating and issued a $82.00 target price (down from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Wolfe Research assumed coverage on shares of Anixter International in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 target price for the company. BidaskClub cut shares of Anixter International from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $86.00 target price on shares of Anixter International in a research report on Friday, September 1st.
Shares of Anixter International (NYSE:AXE) traded up 1.27% during mid-day trading on Thursday, reaching $88.00. 94,313 shares of the company’s stock were exchanged. The company’s 50 day moving average is $81.71 and its 200 day moving average is $78.49. The stock has a market capitalization of $2.93 billion, a PE ratio of 20.09 and a beta of 2.03. Anixter International has a 1-year low of $59.95 and a 1-year high of $88.60.
Anixter International (NYSE:AXE) last issued its earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.36. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. Equities research analysts anticipate that Anixter International will post $5.34 EPS for the current fiscal year.
In related news, VP William Standish sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $74.70, for a total transaction of $74,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samuel Zell acquired 526,277 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were purchased at an average price of $81.34 per share, with a total value of $42,807,371.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 550,277 shares of company stock valued at $42,811,566 and have sold 30,200 shares valued at $2,488,458. 14.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AXE. BlackRock Inc. increased its position in Anixter International by 44,948.8% during the first quarter. BlackRock Inc. now owns 3,703,911 shares of the technology company’s stock worth $293,721,000 after purchasing an additional 3,695,689 shares during the last quarter. Vanguard Group Inc. increased its position in Anixter International by 12.0% during the first quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock worth $223,894,000 after purchasing an additional 303,406 shares during the last quarter. Morgan Stanley increased its position in Anixter International by 119.1% during the first quarter. Morgan Stanley now owns 192,423 shares of the technology company’s stock worth $15,258,000 after purchasing an additional 104,615 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Anixter International during the first quarter worth about $7,981,000. Finally, Dimensional Fund Advisors LP increased its position in Anixter International by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,315,781 shares of the technology company’s stock worth $102,894,000 after purchasing an additional 100,300 shares during the last quarter. Hedge funds and other institutional investors own 85.53% 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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