Anixter International Inc. (NYSE:AXE) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $90.00.
Several equities analysts have commented on AXE shares. Zacks Investment Research raised shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. TheStreet raised shares of Anixter International from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. ValuEngine raised shares of Anixter International from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Finally, Wells Fargo reissued a “market perform” rating and set a $90.00 target price (up from $78.00) on shares of Anixter International in a research report on Wednesday, January 31st.
In other Anixter International news, CEO Robert J. Eck sold 7,800 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $80.12, for a total transaction of $624,936.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 33,986 shares of company stock valued at $2,611,198 over the last 90 days. Corporate insiders own 14.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Elkfork Partners LLC bought a new stake in Anixter International during the fourth quarter valued at about $260,000. Xact Kapitalforvaltning AB bought a new stake in shares of Anixter International in the fourth quarter valued at about $217,000. MetLife Investment Advisors LLC bought a new stake in shares of Anixter International in the fourth quarter valued at about $1,037,000. Macquarie Group Ltd. lifted its stake in shares of Anixter International by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 454,533 shares of the technology company’s stock valued at $34,545,000 after buying an additional 46,745 shares during the period. Finally, Vident Investment Advisory LLC lifted its stake in shares of Anixter International by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 12,469 shares of the technology company’s stock valued at $948,000 after buying an additional 759 shares during the period. Institutional investors own 92.50% of the company’s stock.
AXE stock traded up $2.05 during midday trading on Friday, hitting $80.35. 279,355 shares of the stock were exchanged, compared to its average volume of 126,759. Anixter International has a 1-year low of $62.40 and a 1-year high of $88.85. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.10 and a quick ratio of 1.18. The firm has a market capitalization of $2,675.09, a P/E ratio of 25.03, a PEG ratio of 1.27 and a beta of 2.07.
Anixter International (NYSE:AXE) last posted its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Anixter International had a net margin of 1.38% and a return on equity of 12.39%. Anixter International’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 earnings per share. analysts anticipate that Anixter International will post 6.35 EPS for the current fiscal year.
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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).
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