Anixter International Director Sells $87,140,000 in Stock (AXE)
Anixter International (NYSE:AXE) Director Samuel Zell sold 1,000,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $87.14, for a total value of $87,140,000.00. Following the completion of the sale, the director now directly owns 3,994,015 shares in the company, valued at approximately $348,038,467. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on AXE. Analysts at Robert W. Baird cut their price target on shares of Anixter International from $108.00 to $102.00 in a research note on Thursday, July 31st. One analyst has rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $95.75.
Shares of Anixter International (NYSE:AXE) opened at 86.31 on Monday. Anixter International has a one year low of $80.26 and a one year high of $115.84. The stock’s 50-day moving average is $94.03 and its 200-day moving average is $97.84. The company has a market cap of $2.827 billion and a P/E ratio of 13.46.
Anixter International (NYSE:AXE) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by $0.07. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Anixter International will post $6.32 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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.