Wells Fargo Initiates Coverage On Anixter International to Market Perform

Wells Fargo Initiates Coverage On Anixter International(AXE). The shares have been rated Market Perform. The rating by the stock financial advisor at Wells Fargo was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 2, 2017, Imperial Capital said it Downgrades its rating on Anixter International. The shares have been rated ‘In-Line’ by the firm.

Anixter International (AXE) shares turned negative on Fridays trading session with the shares closing down -0.8 points or -1.02% at a volume of 1,26,253. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $79.6. The peak price level was also seen at $79.6 while the days lowest was $77.5. Finally the shares closed at $78. The 52-week high of the shares is $88 while the 52-week low is $48.5. According to the latest information available, the market cap of the company is $2,583 M.

Anixter International(AXE) last announced its earnings results on Oct 25, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.96B. Analysts had an estimated revenue of $1.97B. Earnings per share were $1.38. The reported EPS was above estimates by $0.02 or 1.47%. Analysts had estimated an EPS of $1.36.

Several Insider Transactions has been reported to the SEC. On Mar 16, 2017, William Standish (Executive VP – Operations) sold 1,000 shares at $79.90 per share price.Also, On Mar 8, 2017, Robert J. Eck (President & CEO) sold 5,000 shares at $80.87 per share price.On Feb 3, 2017, Robert W Grubbs (director) sold 17,862 shares at $84.45 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.

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