Anixter (AXE) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Anixter (NYSE:AXE) from a strong sell rating to a sell rating in a research note released on Saturday, May 12th.

Several other equities analysts have also commented on AXE. Zacks Investment Research lowered Anixter from a hold rating to a sell rating in a research note on Friday, April 27th. TheStreet lowered Anixter from a b- rating to a c+ rating in a research note on Wednesday, February 28th. Finally, Wells Fargo reissued a market perform rating and issued a $90.00 price target (up previously from $78.00) on shares of Anixter in a report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $90.00.

Anixter opened at $62.55 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 1.23, a current ratio of 2.21 and a debt-to-equity ratio of 0.86. Anixter has a 12-month low of $56.25 and a 12-month high of $88.85. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.84, a PEG ratio of 1.09 and a beta of 2.07.

Anixter (NYSE:AXE) last posted its earnings results on Thursday, April 26th. The technology company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.13). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.98 billion. Anixter had a net margin of 1.38% and a return on equity of 12.26%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. analysts forecast that Anixter will post 5.66 EPS for the current year.

In other news, EVP Justin C. Choi purchased 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was purchased at an average cost of $59.89 per share, for a total transaction of $89,835.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Eck sold 12,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $76.04, for a total value of $927,688.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 7,700 shares of company stock valued at $461,945 and sold 27,212 shares valued at $2,066,724. Insiders own 13.60% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Anixter by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,911 shares of the technology company’s stock valued at $145,000 after purchasing an additional 640 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Anixter by 19.6% during the 4th quarter. Flinton Capital Management LLC now owns 4,148 shares of the technology company’s stock worth $315,000 after acquiring an additional 680 shares in the last quarter. Vident Investment Advisory LLC lifted its stake in Anixter by 6.5% during the 4th quarter. Vident Investment Advisory LLC now owns 12,469 shares of the technology company’s stock worth $948,000 after acquiring an additional 759 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Anixter by 6.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the technology company’s stock worth $950,000 after acquiring an additional 800 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Anixter by 11.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,320 shares of the technology company’s stock worth $708,000 after acquiring an additional 980 shares in the last quarter. Institutional investors own 90.10% of the company’s stock.

About Anixter

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.

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

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