Anixter International Inc. (AXE) Given Average Rating of “Hold” by Analysts

Shares of Anixter International Inc. (NYSE:AXE) have been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $86.00.

AXE has been the subject of a number of research reports. Zacks Investment Research raised shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. TheStreet downgraded shares of Anixter International from a “b-” rating to a “c” rating in a report on Tuesday, November 21st. Finally, ValuEngine upgraded shares of Anixter International from a “hold” rating to a “buy” rating in a report on Friday.

Shares of Anixter International (NYSE AXE) traded up $0.20 during trading hours on Tuesday, hitting $76.00. 137,600 shares of the company’s stock were exchanged, compared to its average volume of 153,471. The firm has a market cap of $2,528.70, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.48 and a beta of 2.03. Anixter International has a 52 week low of $62.40 and a 52 week high of $88.60. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 0.87.

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

In related news, CEO Robert J. Eck sold 2,600 shares of Anixter International stock in a transaction on Monday, October 16th. The shares were sold at an average price of $86.23, for a total value of $224,198.00. 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 have sold a total of 16,358 shares of company stock worth $1,249,668 in the last 90 days. 14.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Anixter International by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,949,688 shares of the technology company’s stock worth $230,666,000 after purchasing an additional 126,313 shares during the last quarter. Victory Capital Management Inc. grew its position in Anixter International by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 979,820 shares of the technology company’s stock worth $83,284,000 after purchasing an additional 106,813 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Anixter International by 8.3% in the 2nd 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. Alliancebernstein L.P. grew its position in Anixter International by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,456,881 shares of the technology company’s stock worth $113,928,000 after purchasing an additional 81,578 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Anixter International by 13.3% in the 3rd quarter. Jennison Associates LLC now owns 674,785 shares of the technology company’s stock worth $57,357,000 after purchasing an additional 79,274 shares during the last quarter. 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).

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