Anixter International Inc. AXE saw a big move last session, as the company's shares fell by about 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for AXE, as the stock is now down 11.3% in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as this electronic wire and cable producer has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
AXE currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks in the Computer & Technology sector include AVX Corp. AVX, AXT Inc. AXTI and Benchmark Electronics Inc. BHE. All these stocks carry a Zacks Rank #1 (Strong Buy).
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ANIXTER INTL AXE: Free Stock Analysis Report
AVX CORP AVX: Free Stock Analysis Report
AXT INC AXTI: Free Stock Analysis Report
BENCHMARK ELETR BHE: Free Stock Analysis Report
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