Axos Financial (NYSE:AX) Downgraded to Sell Rating by StockNews.com

Axos Financial (NYSE:AX) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other research analysts also recently weighed in on the company. Needham & Company LLC lifted their price target on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price 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. Wedbush lowered their target price on Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Piper Sandler boosted their target price on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Raymond James boosted their target price on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.80.

Axos Financial Price Performance

Shares of AX traded down $2.22 during midday trading on Thursday, reaching $79.33. The stock had a trading volume of 1,076,206 shares, compared to its average volume of 583,718. Axos Financial has a 52 week low of $32.05 and a 52 week high of $82.95. 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 firm’s 50 day moving average price is $65.27 and its 200-day moving average price is $62.15. The company has a market capitalization of $4.53 billion, a P/E ratio of 9.60 and a beta of 1.38.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $512.87 million for the quarter, compared to the consensus estimate of $299.59 million. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. During the same quarter in the previous year, the business earned $1.41 EPS. On average, analysts forecast that Axos Financial will post 7.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, the executive vice president now owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Axos Financial

Several large investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its stake in shares of Axos Financial by 14.9% in the 3rd quarter. Natixis Advisors LLC now owns 21,030 shares of the company’s stock valued at $1,322,000 after purchasing an additional 2,727 shares during the period. Empowered Funds LLC bought a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $800,000. Geneva Capital Management LLC grew its stake in shares of Axos Financial by 0.3% in the 3rd quarter. Geneva Capital Management LLC now owns 708,520 shares of the company’s stock valued at $44,552,000 after purchasing an additional 1,976 shares during the period. Aigen Investment Management LP bought a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $324,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $1,159,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.