Price Don’t Lie: Is Buying Anixter International Inc. Here a Winning Strategy?

Price Don't Lie: Is Buying Anixter International Inc. Here a Winning Strategy?

The stock of Anixter International Inc. (NYSE:AXE) hit a new 52-week high and has $93.84 target or 36.00% above today’s $69.00 share price. The 8 months bullish chart indicates low risk for the $2.27 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $93.84 price target is reached, the company will be worth $817.20M 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 101,964 shares traded hands. Anixter International Inc. (NYSE:AXE) has risen 32.77% since April 7, 2016 and is uptrending. It has outperformed by 27.98% 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. $78 is the highest target while $49 is the lowest. The $67.25 average target is -2.54% below today’s ($69) stock price. Anixter has been the topic of 11 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was maintained by Imperial Capital with “Outperform” on Wednesday, July 27. The firm has “In-Line” rating given on Monday, October 19 by Imperial Capital. Imperial Capital maintained Anixter International Inc. (NYSE:AXE) rating on Thursday, July 30. Imperial Capital has “In-Line” rating and $73 price target. The company was upgraded on Monday, September 21 by Zacks. The rating was maintained by Imperial Capital on Friday, February 19 with “In-Line”. The stock of Anixter International Inc. (NYSE:AXE) earned “Buy” rating by Longbow on Thursday, September 10. As per Monday, April 25, the company rating was maintained by Imperial Capital. The stock has “Outperform” rating given by Imperial Capital on Thursday, October 27.

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 increased to 1.63 in Q2 2016. Its up 0.50, from 1.13 in 2016Q1. The ratio is positive, 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.
Great West Life Assurance Com Can has 0% invested in the company for 2,803 shares. State Board Of Administration Of Florida Retirement System, a Florida-based fund reported 13,912 shares. Millennium Mngmt Lc holds 0.01% or 115,431 shares in its portfolio. Moreover, New York State Common Retirement Fund has 0.01% invested in Anixter International Inc. (NYSE:AXE) for 86,102 shares. Teachers Retirement Systems Of The State Of Kentucky holds 9,400 shares or 0.01% of its portfolio. Third Avenue Management Ltd Com last reported 710,789 shares in the company. Deutsche Comml Bank Ag accumulated 0% or 46,067 shares. Oregon Employees Retirement Fund accumulated 0.01% or 6,140 shares. Gemmer Asset Mngmt Limited Liability holds 74 shares or 0% of its portfolio. Wells Fargo & Mn reported 311,581 shares or 0.01% of all its holdings. Proshare Advisors Ltd Company has 4,528 shares for 0% of their US portfolio. Menta Limited Liability Co has 0.1% invested in the company for 13,900 shares. Martingale Asset Mgmt Limited Partnership accumulated 22,207 shares or 0.02% of the stock. Carlson Ltd Partnership has invested 0.1% of its portfolio in Anixter International Inc. (NYSE:AXE). First Quadrant L P Ca reported 45,500 shares or 0.05% of all its holdings.

Insider Transactions: Since September 2, 2016, the stock had 0 insider purchases, and 2 selling transactions for $309,530 net activity. 4,100 Anixter International Inc. (NYSE:AXE) shares with value of $266,500 were sold by Galvin William. FABER TERRANCE sold $43,030 worth of Anixter International Inc. (NYSE:AXE) on Tuesday, November 1.

More important recent Anixter International Inc. (NYSE:AXE) news were published by: Businesswire.com which released: “Anixter International Inc. Reports Third Quarter 2016 Results” on October 25, 2016, also Businesswire.com published article titled: “Anixter International Inc. Announces the Acquisition of the Power Solutions …”, Businesswire.com published: “Anixter International Inc. Reports Second Quarter 2016 Results” on July 26, 2016. More interesting news about Anixter International Inc. (NYSE:AXE) was released by: Businesswire.com and their article: “Anixter International Inc. Announces Closing of Power Solutions Acquisition” with publication date: October 05, 2015.

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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