Anixter International Inc. (NYSE:AXE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “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). The NSS segment’s product portfolio includes access control, power, cable management, wireless, professional audio/video, voice and networking switches, and other ancillary products. The EES segment’s product portfolio includes electrical and electronic wire and cable, shipboard cable, support and supply products, low-voltage cable, instrumentation cable, industrial communication and control products, security cable, connectors, industrial Ethernet switches, and voice and data cable. The UPS segment supplies electrical transmission and distribution products, power plant maintenance, repair and operations supplies, and smart-grid products. “

Several other research firms have also recently issued reports on AXE. Wolfe Research assumed coverage on Anixter International in a research note on Tuesday, July 11th. They set an “outperform” rating and a $88.00 target price on the stock. BidaskClub cut Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating and set a $82.00 target price (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Finally, Robert W. Baird reissued a “hold” rating and set a $86.00 target price on shares of Anixter International in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $86.00.

Shares of Anixter International (NYSE:AXE) traded up 3.63% during mid-day trading on Thursday, hitting $68.45. 269,872 shares of the stock traded hands. The firm’s 50-day moving average is $81.74 and its 200-day moving average is $78.43. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 15.64 and a beta of 2.03. Anixter International has a 52 week low of $63.40 and a 52 week high of $88.60.

Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.21). Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm posted $1.38 earnings per share. Anixter International’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Anixter International will post $5.03 earnings per share for the current year.

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In related news, VP William Standish sold 1,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $76.95, for a total value of $76,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Eck sold 2,600 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $86.23, for a total value of $224,198.00. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 24,000 shares of company stock worth $4,195 and sold 30,200 shares worth $2,488,458. 14.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of AXE. UBS Asset Management Americas Inc. grew its stake in Anixter International by 15.6% in the first quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the technology company’s stock worth $1,646,000 after purchasing an additional 2,799 shares during the period. FMR LLC purchased a new stake in Anixter International in the first quarter worth $1,610,000. Teachers Advisors LLC grew its stake in Anixter International by 20.6% in the first quarter. Teachers Advisors LLC now owns 283,616 shares of the technology company’s stock worth $22,491,000 after purchasing an additional 48,471 shares during the period. Thrivent Financial For Lutherans grew its stake in Anixter International by 5.0% in the first quarter. Thrivent Financial For Lutherans now owns 16,090 shares of the technology company’s stock worth $1,276,000 after purchasing an additional 770 shares during the period. Finally, Vanguard Group Inc. grew its stake in Anixter International by 12.0% in the first quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock worth $223,894,000 after purchasing an additional 303,406 shares during the period. 85.34% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Anixter International (NYSE:AXE)

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