Axos Financial’s (AX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Axos Financial (NYSE:AX) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $85.00 price objective on the stock.

AX has been the subject of several other reports. Wedbush reduced their target price on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price target on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.20.

Axos Financial Trading Down 0.4 %

Shares of Axos Financial stock opened at $71.01 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 8.60 and a beta of 1.46. The business has a fifty day simple moving average of $75.44 and a 200-day simple moving average of $69.90. Axos Financial has a fifty-two week low of $44.10 and a fifty-two week high of $88.46.

Axos Financial (NYSE:AX) last announced its earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The business had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. During the same period in the prior year, the business posted $1.41 earnings per share. On average, equities analysts forecast that Axos Financial will post 7.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axos Financial news, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This represents a 7.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AX. Wasatch Advisors LP boosted its stake in Axos Financial by 34.0% during the 3rd quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock valued at $72,610,000 after purchasing an additional 292,952 shares during the period. Millennium Management LLC boosted its stake in Axos Financial by 107.9% during the 2nd quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock valued at $20,988,000 after purchasing an additional 190,584 shares during the period. State Street Corp lifted its position in shares of Axos Financial by 5.5% in the 3rd quarter. State Street Corp now owns 3,178,708 shares of the company’s stock worth $199,877,000 after acquiring an additional 164,997 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Axos Financial in the 4th quarter worth approximately $9,849,000. Finally, Geode Capital Management LLC lifted its position in shares of Axos Financial by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock worth $90,861,000 after acquiring an additional 91,797 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.