Axos Financial’s (AX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Axos Financial (NYSE:AX) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $85.00 price objective on the stock.

Several other equities analysts also recently issued reports on AX. Wedbush cut their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Axos Financial currently has a consensus rating of “Moderate Buy” and an average target price of $83.20.

Axos Financial Trading Down 0.4 %

Shares of AX opened at $71.01 on Tuesday. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $75.44 and a 200-day simple moving average of $69.90. The stock has a market cap of $4.05 billion, a PE ratio of 8.60 and a beta of 1.46.

Axos Financial (NYSE:AX) last issued its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The business had revenue of $512.87 million during the quarter, compared to analysts’ expectations of $299.59 million. During the same period in the prior year, the firm posted $1.41 EPS. On average, sell-side analysts predict that Axos Financial will post 7.07 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of Axos Financial stock in a transaction on Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the completion of the sale, the director now directly owns 46,209 shares of the company’s stock, valued at $3,669,456.69. The trade was a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now directly owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors have recently made changes to their positions in AX. Kathleen S. Wright Associates Inc. acquired a new position in shares of Axos Financial during the third quarter worth about $27,000. Heck Capital Advisors LLC bought a new stake in Axos Financial during the fourth quarter worth about $35,000. Ashton Thomas Securities LLC bought a new stake in Axos Financial during the third quarter worth about $41,000. Farther Finance Advisors LLC raised its holdings in Axos Financial by 881.8% during the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after acquiring an additional 582 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Axos Financial by 45.7% during the third quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock worth $62,000 after acquiring an additional 308 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.