Anixter International (NYSE:AXE) Upgraded to “Hold” by ValuEngine

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Anixter International (NYSE:AXE) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday, November 1st, ValuEngine reports.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Co raised shares of Anixter International from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $90.00 in a research note on Monday, September 23rd. TheStreet raised shares of Anixter International from a “c+” rating to a “b-” rating in a research note on Monday, September 16th. Longbow Research cut shares of Anixter International from a “buy” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a research note on Thursday, October 31st. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Anixter International from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $89.33.

Shares of AXE traded up $0.31 during mid-day trading on Friday, hitting $85.30. 344,201 shares of the company’s stock were exchanged, compared to its average volume of 213,428. Anixter International has a 52 week low of $50.05 and a 52 week high of $86.67. The stock’s 50-day simple moving average is $71.56 and its 200-day simple moving average is $62.51. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.43 and a beta of 1.95. The company has a quick ratio of 1.10, a current ratio of 1.91 and a debt-to-equity ratio of 0.73.

Anixter International (NYSE:AXE) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.27. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Anixter International had a net margin of 2.34% and a return on equity of 14.08%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. Analysts forecast that Anixter International will post 7.42 earnings per share for the current fiscal year.

In other Anixter International news, CFO Ted A. Dosch sold 10,205 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $66.56, for a total value of $679,244.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Galvin sold 6,676 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $69.50, for a total transaction of $463,982.00. The disclosure for this sale can be found here. Insiders sold 33,584 shares of company stock worth $2,304,285 in the last 90 days. Company insiders own 11.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new stake in Anixter International in the second quarter valued at approximately $63,000. First Mercantile Trust Co. acquired a new stake in Anixter International in the third quarter valued at approximately $63,000. Quantamental Technologies LLC acquired a new stake in Anixter International in the second quarter valued at approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Anixter International by 32.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,194 shares of the technology company’s stock valued at $152,000 after buying an additional 537 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. acquired a new stake in Anixter International in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 85.77% of the company’s stock.

Anixter International Company Profile

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable solutions, and utility power solutions worldwide. The company operates through Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS) segments.

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