Axos Financial (NYSE:AX) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a report issued on Wednesday morning.

AX has been the subject of several other research reports. Raymond James boosted their price target on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wedbush reduced their price objective on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Needham & Company LLC increased their target price on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price target on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.80.

Axos Financial Stock Down 0.5 %

Shares of NYSE:AX opened at $80.16 on Wednesday. The business’s 50 day moving average is $67.01 and its 200 day moving average is $63.38. The stock has a market cap of $4.58 billion, a P/E ratio of 9.70 and a beta of 1.38. Axos Financial has a 52-week low of $36.93 and a 52-week high of $85.54. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The business 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 prior year, the company earned $1.41 EPS. Sell-side analysts predict that Axos Financial will post 7.02 EPS for the current year.

Insider Activity

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward James Ratinoff sold 4,002 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $79.41, for a total transaction of $317,798.82. Following the sale, the director now directly owns 46,209 shares in the company, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,199 shares of company stock worth $10,882,135. Insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AX. Lazard Asset Management LLC raised its position in Axos Financial by 6.1% during the 1st quarter. Lazard Asset Management LLC now owns 260,100 shares of the company’s stock worth $14,055,000 after buying an additional 14,953 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Axos Financial by 7.2% during the first quarter. First Eagle Investment Management LLC now owns 187,572 shares of the company’s stock worth $10,136,000 after purchasing an additional 12,650 shares during the last quarter. M&G Plc acquired a new position in Axos Financial during the first quarter valued at $8,249,000. SG Americas Securities LLC boosted its holdings in Axos Financial by 453.9% in the second quarter. SG Americas Securities LLC now owns 32,124 shares of the company’s stock valued at $1,836,000 after purchasing an additional 26,324 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Axos Financial by 19.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 50,460 shares of the company’s stock worth $2,727,000 after purchasing an additional 8,322 shares during the period. Hedge funds and other institutional investors 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.