StockNews.com Downgrades Axos Financial (NYSE:AX) to Sell

StockNews.com downgraded shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a report published on Wednesday morning.

AX has been the topic of several other reports. Piper Sandler increased their target price on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Needham & Company LLC increased their price objective on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wedbush reduced their target price on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Raymond James upped their price target on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.80.

Axos Financial Stock Down 0.5 %

Shares of NYSE:AX opened at $80.16 on Wednesday. Axos Financial has a 1 year low of $36.93 and a 1 year high of $85.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day moving average is $67.01 and its 200-day moving average is $63.47. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 9.70 and a beta of 1.38.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. The firm had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. During the same period in the previous year, the firm earned $1.41 earnings per share. Equities research analysts predict that Axos Financial will post 7.02 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In other news, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the completion of the sale, the director now owns 46,209 shares in the company, valued at $3,669,456.69. This represents a 7.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,199 shares of company stock worth $10,882,135. Insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in shares of Axos Financial in the 2nd quarter worth about $25,000. EntryPoint Capital LLC boosted its stake in Axos Financial by 816.7% in the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock valued at $27,000 after acquiring an additional 441 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Axos Financial during the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Axos Financial during the 3rd quarter worth approximately $41,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Axos Financial by 881.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after purchasing an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.