Axos Financial (NYSE:AX) Stock Rating Upgraded by StockNews.com

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

A number of other equities research analysts also recently issued reports on AX. Wedbush dropped their price target 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. Keefe, Bruyette & Woods increased their target price 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. Finally, Needham & Company LLC boosted their price objective on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

Axos Financial Price Performance

Shares of AX stock traded down $0.82 during trading hours on Tuesday, hitting $80.01. The company’s stock had a trading volume of 302,966 shares, compared to its average volume of 568,819. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial has a twelve month low of $41.06 and a twelve month high of $88.46. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 9.69 and a beta of 1.42. The business has a fifty day moving average of $71.01 and a 200-day moving average of $65.28.

Axos Financial (NYSE:AX) last issued 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. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The firm had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. During the same period last year, the company earned $1.41 EPS. As a group, equities research analysts anticipate that Axos Financial will post 7.07 EPS for the current year.

Insider Activity at Axos Financial

In related news, CEO Gregory Garrabrants sold 125,000 shares of the firm’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 directly owns 1,340,377 shares in the company, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew J. Micheletti sold 5,197 shares of Axos Financial stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, 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 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,199 shares of company stock valued at $10,882,135 over the last ninety days. Corporate insiders own 5.07% of the company’s stock.

Institutional Trading of Axos Financial

Several hedge funds have recently made changes to their positions in the stock. World Investment Advisors LLC acquired a new stake in shares of Axos Financial in the third quarter valued at approximately $221,000. Sanctuary Advisors LLC raised its stake in shares of Axos Financial by 98.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,631 shares of the company’s stock worth $1,297,000 after buying an additional 10,252 shares in the last quarter. Virtu Financial LLC bought a new position in Axos Financial during the third quarter valued at about $277,000. Geode Capital Management LLC lifted its holdings in Axos Financial by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock valued at $90,861,000 after acquiring an additional 91,797 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Axos Financial by 32.6% during the 3rd quarter. Barclays PLC now owns 142,715 shares of the company’s stock valued at $8,974,000 after purchasing an additional 35,087 shares in the last quarter. 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.