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.
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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