Anixter International Inc. (NYSE:AXE) has received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $88.00.

A number of analysts have commented on AXE shares. Zacks Investment Research upgraded shares of Anixter International from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Friday, April 28th. BidaskClub upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Wells Fargo & Company started coverage on shares of Anixter International in a report on Tuesday, March 21st. They issued a “market perform” rating for the company. Finally, Wolfe Research started coverage on shares of Anixter International in a report on Tuesday. They issued an “outperform” rating and a $88.00 price objective for the company.

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In other Anixter International news, Director F Philip Handy sold 20,000 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $83.97, for a total value of $1,679,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Eck sold 4,995 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $80.18, for a total transaction of $400,499.10. The disclosure for this sale can be found here. In the last quarter, insiders acquired 30,000 shares of company stock valued at $5,510 and sold 32,930 shares valued at $2,705,349. 14.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AXE. Acrospire Investment Management LLC increased its stake in shares of Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock worth $127,000 after buying an additional 800 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Anixter International during the first quarter worth about $144,000. Invictus RG purchased a new stake in shares of Anixter International during the first quarter worth about $230,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Anixter International during the first quarter worth about $245,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Anixter International by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 3,160 shares of the technology company’s stock worth $250,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.

Shares of Anixter International (NYSE AXE) traded down 2.08% during midday trading on Tuesday, hitting $77.55. The stock had a trading volume of 160,107 shares. The firm has a 50 day moving average price of $76.88 and a 200-day moving average price of $80.05. The stock has a market cap of $2.58 billion, a PE ratio of 20.34 and a beta of 1.98. Anixter International has a 52-week low of $53.22 and a 52-week high of $88.00.

Anixter International (NYSE:AXE) last issued its quarterly earnings results on Tuesday, April 25th. The technology company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. Anixter International had a net margin of 1.67% and a return on equity of 13.31%. Anixter International’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. Equities analysts predict that Anixter International will post $5.40 EPS for the current fiscal year.

Anixter International Company Profile

Anixter International Inc is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Company operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).

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