Anixter International (AXE) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Anixter International (NYSE:AXE) from a hold rating to a buy rating in a research note released on Friday.

A number of other research firms also recently weighed in on AXE. Robert W. Baird restated a hold rating and set a $86.00 price target on shares of Anixter International in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Anixter International from a sell rating to a hold rating in a report on Tuesday, December 26th. Finally, TheStreet downgraded shares of Anixter International from a b- rating to a c rating in a report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $86.00.

Anixter International (NYSE:AXE) opened at $76.00 on Friday. The firm has a market cap of $2,528.70, a price-to-earnings ratio of 17.72, a PEG ratio of 1.48 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 twelve month low of $62.40 and a twelve month high of $88.60.

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

In related news, VP William Standish sold 1,758 shares of Anixter International stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.00, for a total value of $114,270.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert J. Eck sold 11,000 shares of Anixter International stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $825,000.00. The disclosure for this sale can be found here. Insiders sold a total of 16,358 shares of company stock worth $1,249,668 in the last quarter. Insiders own 14.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AXE. Advisor Group Inc. increased its holdings in shares of Anixter International by 110.9% during the 2nd quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock worth $106,000 after purchasing an additional 712 shares during the period. SG Americas Securities LLC bought a new position in shares of Anixter International during the 2nd quarter worth about $158,000. Riverhead Capital Management LLC increased its holdings in shares of Anixter International by 77.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock worth $167,000 after purchasing an additional 931 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Anixter International during the 3rd quarter worth about $209,000. Finally, Flinton Capital Management LLC increased its holdings in shares of Anixter International by 64.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock worth $218,000 after purchasing an additional 1,088 shares during the period. Hedge funds and other institutional investors own 87.90% of the company’s stock.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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