Anixter International (AXE) Upgraded at TheStreet

Anixter International (NYSE:AXE) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Wednesday.

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of Anixter International from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Zacks Investment Research raised shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $86.00.

Anixter International (NYSE:AXE) traded up $1.70 during trading on Wednesday, hitting $78.50. 332,408 shares of the stock traded hands, compared to its average volume of 189,144. The stock has a market capitalization of $2,590.00, a P/E ratio of 18.34, a P/E/G ratio of 1.33 and a beta of 2.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 2.07. Anixter International has a 1-year low of $62.40 and a 1-year high of $88.60.

Anixter International (NYSE:AXE) last released its earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.21). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Anixter International had a return on equity of 12.52% and a net margin of 1.86%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $1.38 earnings per share. research analysts predict that Anixter International will post 5.13 earnings per share for the current fiscal year.

In related news, CEO Robert J. Eck sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $86.23, for a total transaction of $224,198.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William Standish sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $86.20, for a total transaction of $86,200.00. The disclosure for this sale can be found here. Insiders have sold 16,532 shares of company stock worth $1,262,866 over the last ninety days. 14.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AXE. Vanguard Group Inc. grew its position in Anixter International by 4.5% during the second quarter. Vanguard Group Inc. now owns 2,949,688 shares of the technology company’s stock valued at $230,666,000 after purchasing an additional 126,313 shares in the last quarter. Victory Capital Management Inc. grew its position in Anixter International by 12.2% during the third quarter. Victory Capital Management Inc. now owns 979,820 shares of the technology company’s stock valued at $83,284,000 after purchasing an additional 106,813 shares in the last quarter. Dimensional Fund Advisors LP grew 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 valued at $102,894,000 after purchasing an additional 100,300 shares in the last quarter. Jennison Associates LLC grew its position in Anixter International by 13.3% during the third quarter. Jennison Associates LLC now owns 674,785 shares of the technology company’s stock valued at $57,357,000 after purchasing an additional 79,274 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in Anixter International by 14.2% during the third quarter. Macquarie Group Ltd. now owns 407,788 shares of the technology company’s stock valued at $34,662,000 after purchasing an additional 50,655 shares in the last quarter. 87.90% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Anixter International (AXE) Upgraded at TheStreet” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2018/01/13/anixter-international-axe-upgraded-at-thestreet.html.

About Anixter International

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).

Receive News & Ratings for Anixter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anixter International and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply