Anixter International Upgraded to “Neutral” at Zacks (AXE)
Anixter International (NYSE:AXE) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, American Banking & Market News reports. The firm currently has a $88.70 price target on the stock. Zacks‘ price target would indicate a potential upside of 0.33% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at William Blair downgraded shares of Anixter International (NYSE:AXE) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 15th. Analysts at Wunderlich raised their price target on shares of Anixter International (NYSE:AXE) from $86.00 to $97.00 in a research note to investors on Friday, July 19th. They now have a “hold” rating on the stock.
Anixter International (NYSE:AXE) traded up 0.86% on Tuesday, hitting $88.41. The stock had a trading volume of 119,996 shares. Anixter International has a 52-week low of $54.11 and a 52-week high of $89.61. The stock has a 50-day moving average of $86.2 and a 200-day moving average of $77.91. The company has a market cap of $2.877 billion and a price-to-earnings ratio of 25.50.
Anixter International (NYSE:AXE) last announced its earnings results on Tuesday, July 23rd. The company reported $1.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.53 by $0.14. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Analysts expect that Anixter International will post $5.87 EPS for the current fiscal year.
Anixter International Inc is engaged in the distribution of communications and security products, electrical wire and cable products, fasteners and small parts through Anixter Inc and its subsidiaries (NYSE:AXE).
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