Anixter International (AXE) is Reiterated by Imperial Capital to In-line, Raises Price Target to $ 60

Anixter International (AXE) was Reiterated by Imperial Capital to “In-line” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $49 . Imperial Capital advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Anixter International. Shares were Reiterated by Imperial Capital on Feb 19, 2016 to “In-line” and Lowered the Price Target to $ 49 from a previous price target of $70 .

On the company’s financial health, Anixter International reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $1.07. The company had revenue of $1835.80 million for the quarter, compared to analysts expectations of $1892.08 million. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS.

Anixter International opened for trading at $56.1 and hit $57.74 on the upside on Friday, eventually ending the session at $57.31, with a gain of 2.74% or 1.53 points. The heightened volatility saw the trading volume jump to 2,93,062 shares. Company has a market cap of $1,890 M.

In a different news, on Feb 16, 2016, Robert J. Eck (CEO) purchased 8,000 shares at $39.47 per share price. According to the SEC, on Dec 2, 2015, Rodney Arthur Smith (EVP – Human Resources) sold 500 shares at $68.75 per share price. On May 15, 2015, Giulio Berardesca (Executive VP – Wire & Cable) sold 3,000 shares at $71.30 per share price, according to the Form-4 filing with the securities and exchange commission.

Anixter International Inc. is engaged in the distribution of enterprise cabling and security solutions electrical and electronic wire and cable products original equipment manufacturer (OEM) supply fasteners and other small parts. The Company operates under the following segments: Enterprise Cabling and Security Solutions; Electrical and Electronic Wire and Cable and OEM Supply – Fasteners. The Company’s inventory management services include procurement advisory engineering services component kit production small component assembly and e-commerce and electronic data interchange. Its customers include international national regional and local companies. The Company caters to industry groups such as manufacturing resource extraction telecommunications Internet service providers finance education healthcare retail transportation utilities aerospace and defense and Government. The Company’s wholly owned subsidiary is Anixter Inc.

Anixter International

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