Axos Financial (NYSE:AX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Axos Financial (NYSE:AX) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $85.00 target price on the stock.

Several other equities analysts have also issued reports on the stock. Wedbush dropped their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a 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 target price on Axos Financial from $74.00 to $91.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Axos Financial currently has an average rating of “Moderate Buy” and a consensus price target of $83.20.

Axos Financial Price Performance

Shares of AX opened at $68.97 on Thursday. The business has a 50-day moving average of $76.75 and a 200-day moving average of $68.93. 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 company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.35 and a beta of 1.46. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. The firm had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. During the same quarter last year, the business earned $1.41 EPS. As a group, equities research analysts anticipate that Axos Financial will post 7.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction on Friday, November 15th. The stock was 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 directly owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. This represents a 7.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in Axos Financial in the 2nd quarter valued at about $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Axos Financial during the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Axos Financial during the third quarter worth $41,000. Farther Finance Advisors LLC boosted its position in Axos Financial by 881.8% in the third 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. Finally, GAMMA Investing LLC grew its stake in Axos Financial by 45.7% in the 3rd quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock valued at $62,000 after purchasing an additional 308 shares during the period. 83.79% of the stock is owned by institutional investors.

About Axos Financial

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.