Anixter International (AXE) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.92 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.81. The company posted revenue of $1816.20 million in the period, compared to analysts expectations of $1752.90 million. The company’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.
Many Wall Street Analysts have commented on Anixter International. Company shares were Reiterated by Imperial Capital on Apr 25, 2016 to “In-line”, Firm has raised the Price Target to $ 60 from a previous price target of $49 .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 .
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.