Anixter International (NYSE:AXE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Anixter is a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions and Utility Power Solutions. They help build, connect, protect and power valuable assets and critical infrastructures. From enterprise networks to industrial MRO supply to video surveillance applications to electric power distribution, they offer full-line solutions, and intelligence, that create reliable, resilient systems that sustain businesses and communities. Through their unmatched global distribution network along with their supply chain and technical expertise, they help lower the cost, risk and complexity of their customers’ supply chains. “

Other research analysts have also issued reports about the company. ValuEngine raised Anixter International from a “strong sell” rating to a “sell” rating in a research report on Friday, July 20th. Longbow Research raised Anixter International from a “neutral” rating to a “buy” rating in a research report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Anixter International currently has an average rating of “Hold” and a consensus target price of $85.50.

Shares of AXE opened at $70.65 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.65. The firm has a market capitalization of $2.39 billion, a P/E ratio of 13.70, a PEG ratio of 1.53 and a beta of 2.17. Anixter International has a twelve month low of $56.25 and a twelve month high of $88.85.

Anixter International (NYSE:AXE) last issued its earnings results on Thursday, July 26th. The technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Anixter International had a return on equity of 12.42% and a net margin of 1.29%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. equities research analysts expect that Anixter International will post 5.83 EPS for the current year.

In related news, Director Robert J. Eck sold 16,642 shares of the stock in a transaction on Friday, July 20th. The stock was sold at an average price of $75.00, for a total value of $1,248,150.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd acquired a new stake in Anixter International in the 1st quarter valued at $160,000. PNC Financial Services Group Inc. increased its holdings in Anixter International by 33.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the technology company’s stock valued at $185,000 after purchasing an additional 727 shares in the last quarter. Bridgewater Associates LP acquired a new stake in Anixter International in the 2nd quarter valued at $208,000. Verition Fund Management LLC acquired a new stake in Anixter International in the 1st quarter valued at $214,000. Finally, Suntrust Banks Inc. acquired a new stake in Anixter International in the 1st quarter valued at $215,000. Hedge funds and other institutional investors own 90.91% of the company’s stock.

About Anixter International

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.

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