BidaskClub Downgrades Anixter International Inc. (NYSE:AXE) to Strong Sell

BidaskClub cut shares of Anixter International Inc. (NYSE:AXE) from a sell rating to a strong sell rating in a report released on Saturday, August 5th.

Several other research analysts have also recently commented on the company. Zacks Investment Research cut Anixter International from a hold rating to a sell rating in a research report on Tuesday, August 1st. Wells Fargo & Company reissued a market perform rating and set a $82.00 price target (down from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Finally, Wolfe Research began coverage on Anixter International in a research report on Tuesday, July 11th. They set an outperform rating and a $88.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $86.00.

Shares of Anixter International (NYSE AXE) traded down 0.70% during midday trading on Friday, reaching $71.05. The company’s stock had a trading volume of 144,369 shares. Anixter International has a 12 month low of $58.55 and a 12 month high of $88.00. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 16.23 and a beta of 1.98. The stock has a 50-day moving average of $77.60 and a 200 day moving average of $79.14.

Anixter International (NYSE:AXE) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 earnings per share for the quarter, hitting the consensus estimate of $1.36. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. Anixter International’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts predict that Anixter International will post $5.35 earnings per share for the current fiscal year.

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In related news, Director Samuel Zell acquired 526,277 shares of the stock in a transaction on Wednesday, July 26th. The shares were purchased at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William Standish sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $74.70, for a total value of $74,700.00. The disclosure for this sale can be found here. In the last quarter, insiders have bought 556,277 shares of company stock worth $42,812,881 and have sold 3,000 shares worth $228,450. 14.70% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. TFS Capital LLC acquired a new position in shares of Anixter International during the first quarter valued at about $422,000. Morgan Stanley raised its position in shares of Anixter International by 119.1% in the first quarter. Morgan Stanley now owns 192,423 shares of the technology company’s stock valued at $15,258,000 after buying an additional 104,615 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of Anixter International by 2.7% in the second quarter. First Midwest Bank Trust Division now owns 11,082 shares of the technology company’s stock valued at $867,000 after buying an additional 291 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Anixter International by 23.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,900 shares of the technology company’s stock valued at $864,000 after buying an additional 2,100 shares during the last quarter. Finally, First National Bank of Omaha raised its position in shares of Anixter International by 21.8% in the first quarter. First National Bank of Omaha now owns 17,675 shares of the technology company’s stock valued at $1,402,000 after buying an additional 3,169 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

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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