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

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

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

Axos Financial Price Performance

Shares of AX opened at $81.79 on Wednesday. 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 stock has a market cap of $4.67 billion, a PE ratio of 9.90 and a beta of 1.38. Axos Financial has a 12-month low of $34.99 and a 12-month high of $85.54. The business has a 50-day simple moving average of $66.38 and a two-hundred day simple moving average of $63.06.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share (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 company had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Analysts anticipate that Axos Financial will post 7.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Andrew J. Micheletti sold 5,197 shares of Axos Financial 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 sale, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the transaction, the chief executive officer now owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Institutional Trading of Axos Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of Axos Financial by 26.2% in the second quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock valued at $88,568,000 after purchasing an additional 321,494 shares during the last quarter. Geneva Capital Management LLC grew its position in Axos Financial by 0.3% in the 3rd quarter. Geneva Capital Management LLC now owns 708,520 shares of the company’s stock worth $44,552,000 after purchasing an additional 1,976 shares in the last quarter. Emerald Advisers LLC increased its stake in Axos Financial by 14.4% in the 3rd quarter. Emerald Advisers LLC now owns 505,544 shares of the company’s stock valued at $31,789,000 after buying an additional 63,458 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Axos Financial by 9.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock worth $28,512,000 after buying an additional 39,091 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of Axos Financial by 10.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 422,460 shares of the company’s stock worth $26,564,000 after buying an additional 40,184 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.