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AXE

Anixter

$60.96

-0.335 (-0.55%)

06:39
04/23/19
04/23
06:39
04/23/19
06:39

Anixter sees FY19 organic sales up 4%-6.5% from last year

The company commented,"We are optimistic that favorable sales trends that we realized in the Q1 will continue, based on our strong backlog and pipeline trends, and discussions with our customers and suppliers. We continue to see strong demand, tempered by macro economic uncertainty in certain markets. Based on current conditions, we have increased our 2019 organic sales growth to the 4%-6.5% range, with Q2 organic sales growth in the 3%-5% range. Based on our outlook for low-to-mid single digit sales growth and the related investment in working capital to support that growth, combined with our ongoing investment in innovation and business transformation, we reaffirm our previous estimate for full year cash flow from operations of $150M-$175M and capital expenditures of $55M-$60M, which will result in free cash flow of $95M-$115M."

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AXE Anixter
$60.96

-0.335 (-0.55%)

07/20/18
07/20/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Express (AXP) upgraded to Buy from Hold at DZ Bank. 2. Duke Energy (DUK) upgraded to Neutral from Sell at Citi with analyst Praful Mehta saying Duke has dealt with his primary concern about its credit following tax reform with its recent deals. 3. Anixter (AXE) upgraded to Buy from Neutral at Longbow with analyst Shawn Harrison citing checks which showed that North American enterprise spending accelerated as the second quarter progressed while industrial spending grew in the high-single to low double digits. 4. RLI Corp. (RLI) upgraded to Sector Perform from Underperform at RBC Capital with analyst Mark Dwelle saying the company has "resolved reserve and margin concerns" that previously drove his negative view, with the re-emergence of growth placing its earnings and return on equity on a more "favorable track." 5. Beacon Roofing (BECN) upgraded to Overweight from Equal Weight at Stephens with analyst Trey Grooms pointing out that his industry checks show distributors have been able to make up some lost ground over the busier selling months and noting that roofing manufacturers have pushed through three separate price increases year-to-date and plan for another in the August/September time frame. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
07/20/18
UPGRADE
Target $86

Buy
Anixter upgraded to Buy on evidence of acceleration in N.A. spending at Longbow
As previously reported, Longbow analyst Shawn Harrison upgraded Anixter to Buy from Neutral after checks showed that North American enterprise spending accelerated as the second quarter progressed while industrial spending grew in the high-single to low double digits. N.A. cable & wire sales grew a better than forecast mid- to high- single digits year-over-year in Q2, said Harrison. Additionally, rising backlogs and a solid start to July lead him to believe North American growth will be sustained in the second half. He has an $86 price target on Anixter shares.
07/20/18
LBOW
07/20/18
UPGRADE
LBOW
Buy
Anixter upgraded to Buy from Neutral at Longbow

TODAY'S FREE FLY STORIES

STLHF

Standard Lithium

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FLY

Fly Leasing

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WDAY

Workday

$190.87

4.53 (2.43%)

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WDAY

Workday

$190.87

4.53 (2.43%)

CRM

Salesforce

$147.40

1.85 (1.27%)

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CLSD

Clearside Biomedical

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0.09 (7.66%)

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FLY

Fly Leasing

$18.25

0.265 (1.47%)

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USNA

Usana

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0.43 (0.64%)

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FLY

Fly Leasing

$18.25

0.265 (1.47%)

07:02
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Earnings
Fly Leasing reports Q2 adjusted EPS $1.92, consensus $1.43 »

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PTITF

Indosat

$0.00

(0.00%)

07:01
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PCTY

Paylocity

$109.41

3.22 (3.03%)

07:01
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BERY

Berry Global

$39.94

0.57 (1.45%)

07:00
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Berry Global initiated  »

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KEYS

Keysight Technologies

$89.14

1.85 (2.12%)

06:59
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  • 10

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TGT

Target

$103.11

17.54 (20.50%)

06:57
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PAYC

Paycom

$251.93

4.93 (2.00%)

06:57
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06:57
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BJ

BJ's Wholesale

$22.54

0.915 (4.23%)

06:55
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08/22
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06:55
Hot Stocks
Breaking Hot Stocks news story on BJ's Wholesale »

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SQ

Square

$65.43

1.05 (1.63%)

06:53
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CSOD

Cornerstone OnDemand

$51.34

0.32 (0.63%)

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CCC

Clarivate Analytics

$17.65

0.085 (0.48%)

, TRI

Thomson Reuters

$67.48

0.39 (0.58%)

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CCC

Clarivate Analytics

$17.65

0.085 (0.48%)

TRI

Thomson Reuters

$67.48

0.39 (0.58%)

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CDAY

Ceridian

$56.73

2.585 (4.77%)

06:50
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  • 10

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CNMD

Conmed

$97.17

1.16 (1.21%)

06:50
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06:50
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  • 09

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General news
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LYTS

LSI Industries

$3.76

-0.17 (-4.33%)

06:49
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06:49
Earnings
LSI Industries reports Q4 EPS 3c with items, consensus (2c) »

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BJ

BJ's Wholesale

$22.54

0.915 (4.23%)

06:48
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HSBC

HSBC

$36.27

0.1 (0.28%)

, AVVIY

Aviva

$0.00

(0.00%)

06:47
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Periodicals
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HSBC

HSBC

$36.27

0.1 (0.28%)

AVVIY

Aviva

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(0.00%)

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  • 27

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SQM

SQM

$25.40

-0.86 (-3.27%)

06:47
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06:47
Downgrade
SQM rating change  »

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  • 22

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BJ

BJ's Wholesale

$22.54

0.915 (4.23%)

06:46
08/22/19
08/22
06:46
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06:46
Earnings
BJ's Wholesale backs FY19 EPS view $1.42-$1.50, consensus $1.48 »

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