Axos Financial (NYSE:AX) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a research report report published on Monday morning, Zacks.com reports.

According to Zacks, “Axos Financial Inc. is the holding company for BofI Federal Bank, which provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors and selected specialty finance receivables. BofI Federal Bank provides consumer and business banking products. Axos Financial Inc., formerly known as BofI Holding Inc., is based in San Diego, California. “

A number of other brokerages have also weighed in on AX. Compass Point lowered shares of Axos Financial from a buy rating to a neutral rating and set a $35.00 price objective for the company. in a report on Wednesday, May 1st. ValuEngine lowered shares of Axos Financial from a hold rating to a sell rating in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $40.60.

AX stock opened at $28.27 on Monday. Axos Financial has a 52-week low of $23.87 and a 52-week high of $44.10. The company has a market cap of $1.74 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.03 and a beta of 1.02. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.40.

Axos Financial (NYSE:AX) last released its earnings results on Tuesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.11). Axos Financial had a net margin of 24.48% and a return on equity of 16.76%. The business had revenue of $155.27 million for the quarter, compared to analysts’ expectations of $158.20 million. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts predict that Axos Financial will post 2.75 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MBM Wealth Consultants LLC purchased a new stake in Axos Financial during the 1st quarter valued at $26,000. WealthBridge Capital Management LLC purchased a new stake in Axos Financial during the 1st quarter valued at $28,000. US Bancorp DE purchased a new stake in Axos Financial during the 1st quarter valued at $29,000. Toronto Dominion Bank purchased a new stake in Axos Financial during the 1st quarter valued at $34,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Axos Financial during the 1st quarter valued at $35,000. Institutional investors own 72.65% of the company’s stock.

About Axos Financial

Axos Financial, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; prime loans to customers secured by new and used automobiles; and term unsecured personal loans to individual borrowers, as well as overdraft lines of credit.

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