Anixter International Inc (AXE): Today's Featured Wholesale Loser
Anixter International (AXE) pushed the Wholesale industry lower today making it today's featured Wholesale loser. The industry as a whole closed the day up 0.3%. By the end of trading, Anixter International fell 39 cents (-0.7%) to $57.12 on light volume. Throughout the day, 155,118 shares of Anixter International exchanged hands as compared to its average daily volume of 351,800 shares. The stock ranged in price between $56.80-$58.61 after having opened the day at $58.23 as compared to the previous trading day's close of $57.51. Other company's within the Wholesale industry that declined today were: China Auto Logistics (CALI), down 11.1%, SMF Energy Corporation (FUEL), down 7.4%, China Armco Metals (CNAM), down 6.9%, and Shengkai Innovations (VALV), down 6.5%. Anixter International Inc., together with its subsidiaries, distributes communications products, electrical wire and cable products, fasteners, and other small parts. Anixter International has a market cap of $1.93 billion and is part of the services sector. The company has a P/E ratio of 10.9, below the average wholesale industry P/E ratio of 12.2 and below the S&P 500 P/E ratio of 17.7. Shares are down 1.8% year to date as of the close of trading on Wednesday. Currently there are seven analysts that rate Anixter International a buy, no analysts rate it a sell, and three rate it a hold. TheStreet Ratings rates Anixter International as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
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