Needham & Company LLC Begins Coverage on Axos Financial (NYSE:AX)

Needham & Company LLC assumed coverage on shares of Axos Financial (NYSE:AX) in a research report report published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $82.00 price objective on the stock.

AX has been the subject of a number of other reports. Raymond James upped their price objective on shares of Axos Financial from $67.00 to $81.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Piper Sandler raised their price objective on Axos Financial from $68.00 to $84.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods downgraded Axos Financial from an outperform rating to a market perform rating and set a $79.00 price objective on the stock. in a report on Wednesday, July 31st. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $80.20.

Axos Financial Stock Performance

NYSE AX opened at $64.94 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial has a 1-year low of $32.05 and a 1-year high of $79.15. The firm has a market capitalization of $3.70 billion, a P/E ratio of 8.81 and a beta of 1.39. The business’s 50-day simple moving average is $64.31 and its 200-day simple moving average is $60.12.

Axos Financial (NYSE:AX) last issued its earnings results on Tuesday, July 30th. The company reported $1.80 EPS for the quarter, meeting analysts’ consensus estimates of $1.80. Axos Financial had a net margin of 23.96% and a return on equity of 18.57%. The business had revenue of $484.29 million for the quarter, compared to the consensus estimate of $296.02 million. During the same quarter last year, the firm posted $1.50 EPS. Equities analysts predict that Axos Financial will post 7.12 EPS for the current year.

Insider Activity at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the sale, the executive vice president now directly owns 424,149 shares in the company, valued at approximately $26,776,526.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.82% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Several large investors have recently made changes to their positions in AX. Hollencrest Capital Management bought a new stake in shares of Axos Financial during the 2nd quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Axos Financial in the 4th quarter valued at $26,000. Investment Research & Advisory Group Inc. purchased a new position in Axos Financial in the 1st quarter worth about $27,000. EntryPoint Capital LLC raised its holdings in Axos Financial by 816.7% during the 1st quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock worth $27,000 after buying an additional 441 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Axos Financial during the third quarter valued at about $27,000. Institutional investors 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.