Anixter International (NYSE:AXE) Stock Price Crosses Above 50 Day Moving Average of $57.22

Anixter International Inc. (NYSE:AXE)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $57.22 and traded as high as $58.63. Anixter International shares last traded at $58.13, with a volume of 1,354 shares changing hands.

AXE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of Anixter International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, TheStreet cut shares of Anixter International from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.50.

The company has a market cap of $1.98 billion, a PE ratio of 10.24, a P/E/G ratio of 1.17 and a beta of 1.90. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $57.16.

Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, April 23rd. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.06%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. As a group, equities research analysts anticipate that Anixter International Inc. will post 6.17 earnings per share for the current year.

In other news, Director F Philip Handy sold 3,000 shares of Anixter International stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $61.53, for a total transaction of $184,590.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 11.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AXE. Cambridge Investment Research Advisors Inc. increased its position in Anixter International by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the technology company’s stock worth $622,000 after purchasing an additional 639 shares during the last quarter. Comerica Bank increased its position in Anixter International by 0.8% in the fourth quarter. Comerica Bank now owns 28,586 shares of the technology company’s stock worth $1,737,000 after purchasing an additional 225 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Anixter International in the fourth quarter worth $595,000. Acadian Asset Management LLC increased its position in Anixter International by 71.7% in the fourth quarter. Acadian Asset Management LLC now owns 2,421 shares of the technology company’s stock worth $131,000 after purchasing an additional 1,011 shares during the last quarter. Finally, BlackRock Inc. increased its position in Anixter International by 6.6% in the fourth quarter. BlackRock Inc. now owns 4,458,383 shares of the technology company’s stock worth $242,135,000 after purchasing an additional 277,414 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

Anixter International Company Profile (NYSE:AXE)

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable solutions, and utility power solutions worldwide. The company operates through Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS) segments.

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