Anixter International Receives “BB+” Credit Rating from Morningstar (AXE)
Anixter International (NYSE:AXE) has earned a “BB+” credit rating from Morningstar. The agency’s “BB+” rating suggests that the company is an above-average default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. 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 issued a buy rating to the company. Anixter International currently has an average rating of “Buy” and an average target price of $95.75.
Anixter International (NYSE:AXE) opened at 89.23 on Tuesday. Anixter International has a 52-week low of $80.26 and a 52-week high of $115.84. The stock has a 50-day moving average of $90.57 and a 200-day moving average of $97.71. The company has a market cap of $2.923 billion and a price-to-earnings ratio of 13.78.
Anixter International (NYSE:AXE) last announced its earnings results on Tuesday, July 29th. The company reported $1.57 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.39 earnings per share. Anixter International’s revenue was up .4% compared to the same quarter last year. Analysts expect that Anixter International will post $6.33 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).
To view more credit ratings from Morningstar, visit www.morningstar.com.
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