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

Axos Financial (NYSE:AX) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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

Axos Financial Stock Performance

Axos Financial stock opened at $83.59 on Wednesday. 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 fifty day moving average price is $66.09 and its 200 day moving average price is $62.93. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 10.12 and a beta of 1.38. Axos Financial has a 12-month low of $32.05 and a 12-month high of $85.13.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $512.87 million during 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 quarter last year, the firm earned $1.41 EPS. On average, research analysts forecast that Axos Financial will post 7.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $63.13, for a total value of $328,086.61. Following the completion of the sale, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory Garrabrants sold 125,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This trade represents a 0.00 % 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 insiders.

Hedge Funds Weigh In On Axos Financial

Several hedge funds have recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Axos Financial during the 2nd quarter valued at about $25,000. EntryPoint Capital LLC lifted its stake in Axos Financial by 816.7% during the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock valued at $27,000 after purchasing an additional 441 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in 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 approximately $41,000. Finally, Farther Finance Advisors LLC grew 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 buying an additional 582 shares during the last quarter. 83.79% of the stock is currently 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.