Shares of Anixter (NYSE:AXE) have been given an average recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $88.00.
Several research firms have recently weighed in on AXE. Wells Fargo reaffirmed a “market perform” rating and set a $90.00 price objective (up from $78.00) on shares of Anixter in a research report on Wednesday, January 31st. Zacks Investment Research cut Anixter from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. ValuEngine cut Anixter from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, TheStreet cut Anixter from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th.
Shares of AXE stock traded up $0.65 on Thursday, hitting $78.50. 24,046 shares of the stock were exchanged, compared to its average volume of 162,187. 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 stock has a market capitalization of $2,563.57, a P/E ratio of 15.09, a P/E/G ratio of 1.21 and a beta of 2.03. Anixter has a fifty-two week low of $62.40 and a fifty-two week high of $88.85.
Anixter (NYSE:AXE) last posted its quarterly earnings data on Tuesday, January 30th. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Anixter had a return on equity of 12.39% and a net margin of 1.38%. Anixter’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 firm earned $1.31 earnings per share. equities analysts expect that Anixter will post 6.35 EPS for the current year.
In related news, CEO Robert J. Eck sold 12,200 shares of the company’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $75.30, for a total transaction of $918,660.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 27,212 shares of company stock worth $2,066,724 in the last quarter. 14.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXE. Earnest Partners LLC bought a new stake in Anixter during the fourth quarter worth about $47,586,000. Pzena Investment Management LLC raised its holdings in Anixter by 77.7% during the fourth quarter. Pzena Investment Management LLC now owns 860,348 shares of the technology company’s stock worth $65,386,000 after acquiring an additional 376,316 shares in the last quarter. Sei Investments Co. raised its holdings in Anixter by 40,262.2% during the fourth quarter. Sei Investments Co. now owns 232,486 shares of the technology company’s stock worth $15,537,000 after acquiring an additional 231,910 shares in the last quarter. Jennison Associates LLC raised its holdings in Anixter by 14.2% during the fourth quarter. Jennison Associates LLC now owns 770,566 shares of the technology company’s stock worth $58,563,000 after acquiring an additional 95,781 shares in the last quarter. Finally, Channing Capital Management LLC raised its holdings in Anixter by 11.6% during the fourth quarter. Channing Capital Management LLC now owns 686,577 shares of the technology company’s stock worth $52,180,000 after acquiring an additional 71,638 shares in the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.
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Anixter Company Profile
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.
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