The stock of Anixter International Inc. (NYSE:AXE) hit a new 52-week high and has $97.08 target or 26.00% above today’s $77.05 share price. The 9 months bullish chart indicates low risk for the $2.68 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $97.08 price target is reached, the company will be worth $696.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 26,650 shares traded hands. Anixter International Inc. (NYSE:AXE) has risen 43.47% since April 19, 2016 and is uptrending. It has outperformed by 39.61% the S&P500.
Anixter International Inc. (NYSE:AXE) Ratings Coverage
Out of 4 analysts covering Anixter (NYSE:AXE), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Anixter has been the topic of 11 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm has “In-Line” rating given on Monday, April 25 by Imperial Capital. The firm has “Outperform” rating by Imperial Capital given on Wednesday, July 27. Imperial Capital maintained the stock with “In-Line” rating in Monday, October 19 report. The stock of Anixter International Inc. (NYSE:AXE) has “In-Line” rating given on Thursday, July 30 by Imperial Capital. Longbow upgraded it to “Buy” rating and $78 target price in Thursday, September 10 report. The rating was upgraded by Zacks on Monday, September 21 to “Buy”. The company was maintained on Friday, February 19 by Imperial Capital. Imperial Capital upgraded the shares of AXE in a report on Thursday, October 27 to “Outperform” rating.
According to Zacks Investment Research, “Anixter International Inc. is a leading global distributor of communication products used in building enterprise and service provider data, voice and video networks. In addition, Anixter is a leading distributor of specialty wire and cable products to original equipment manufacturers and to industrial companies for maintenance and repair operations.”
Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.69, from 1.63 in 2016Q1. The ratio dropped, as 13 funds sold all Anixter International Inc. shares owned while 44 reduced positions. 26 funds bought stakes while 67 increased positions. They now own 26.01 million shares or 6.35% less from 27.77 million shares in 2016Q1.
Blackrock Advsrs Ltd Limited Liability Company holds 0% or 90,752 shares in its portfolio. The Illinois-based Guggenheim Cap Ltd has invested 0.01% in Anixter International Inc. (NYSE:AXE). Nomura Asset Ltd accumulated 0% or 1,520 shares. Basswood Cap Ltd Com last reported 286,456 shares in the company. Alliancebernstein L P holds 1.54M shares or 0.07% of its portfolio. Ubs Asset Mngmt Americas Incorporated last reported 0% of its portfolio in the stock. Zebra Cap Management Ltd last reported 0.22% of its portfolio in the stock. Regal Invest Advsr Ltd Llc owns 53,822 shares or 0.79% of their US portfolio. Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Moreover, Thrivent Financial For Lutherans has 0% invested in Anixter International Inc. (NYSE:AXE) for 13,720 shares. Spot Trading Ltd Com has invested 0.01% of its portfolio in Anixter International Inc. (NYSE:AXE). Bank & Trust Of Montreal Can last reported 4,481 shares in the company. Pinebridge Lp reported 3,605 shares or 0.01% of all its holdings. Louisiana State Employees Retirement System accumulated 0.04% or 12,600 shares. Intll last reported 21,487 shares in the company.
Insider Transactions: Since September 2, 2016, the stock had 0 insider buys, and 5 sales for $1.56 million net activity. $69,000 worth of Anixter International Inc. (NYSE:AXE) shares were sold by SHOEMAKER RODNEY A. FABER TERRANCE sold $43,030 worth of stock or 650 shares. Galvin William had sold 4,100 shares worth $266,500 on Friday, September 2.
More news for Anixter International Inc. (NYSE:AXE) were recently published by: Businesswire.com, which released: “Anixter International Inc. Announces the Acquisition of the Power Solutions …” on July 15, 2015. Businesswire.com‘s article titled: “Anixter International Inc. Reports Second Quarter 2016 Results” and published on July 26, 2016 is yet another important article.
AXE Company Profile
Anixter International Inc., incorporated on December 6, 1967, is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Firm provides clients access to inventory management programs, approximately 270 warehouses and locations in over 300 cities across over 50 countries. The Company’s divisions include Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES) and Utility Power Solutions (UPS). The Company’s inventory management services include procurement, advisory engineering services, component kit production, small component assembly and e-commerce, and electronic data interchange. The Firm caters to industry groups, such as manufacturing, resource extraction, telecommunications, Internet service providers, finance, education, aerospace and defense, healthcare, retail, transportation, utilities and others. The Company’s subsidiary is Anixter Inc.
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