Insider Selling: Anixter International VP Unloads 1,000 Shares of Stock (AXE)
Anixter International (NYSE:AXE) VP William Standish unloaded 1,000 shares of Anixter International stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $87.18, for a total transaction of $87,180.00. Following the completion of the transaction, the vice president now directly owns 84,838 shares in the company, valued at approximately $7,396,177. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
AXE has been the subject of a number of recent research reports. Analysts at Robert W. Baird raised their price target on shares of Anixter International from $86.00 to $96.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Anixter International from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. They now have a $88.70 price target on the stock. Finally, analysts at William Blair downgraded shares of Anixter International from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 15th.
Anixter International (NYSE:AXE) traded down 0.51% on Tuesday, hitting $87.15. 152,163 shares of the company’s stock traded hands. Anixter International has a 52 week low of $54.11 and a 52 week high of $89.61. The stock’s 50-day moving average is $86.53 and its 200-day moving average is $78.46. The company has a market cap of $2.836 billion and a price-to-earnings ratio of 25.49.
Anixter International (NYSE:AXE) last released its earnings data on Tuesday, July 23rd. The company reported $1.39 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.28 earnings per share. Anixter International’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Anixter International will post $5.86 earnings per share 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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