Insider Selling: Robert Grubbs Unloads 10,000 Shares of Anixter International Stock (AXE)
Anixter International (NYSE:AXE) Director Robert Grubbs sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.17, for a total transaction of $861,700.00. Following the transaction, the director now directly owns 172,239 shares of the company’s stock, valued at approximately $14,841,835. The transaction was disclosed in a document filed 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 cut their price target on shares of Anixter International from $96.00 to $94.00 in a research note to investors on Wednesday, October 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Anixter International from $70.00 to $75.00 in a research note to investors on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $88.68.
Shares of Anixter International (NYSE:AXE) traded up 0.19% on Thursday, hitting $85.49. 255,264 shares of the company’s stock traded hands. Anixter International has a 52-week low of $54.11 and a 52-week high of $89.40. The stock has a 50-day moving average of $87.40 and a 200-day moving average of $80.3. The company has a market cap of $2.782 billion and a P/E ratio of 19.20.
Anixter International (NYSE:AXE) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.63 by $0.11. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $1.41 earnings per share. Anixter International’s revenue was down 3.2% compared to the same quarter last year. Analysts expect that Anixter International will post $5.65 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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