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

Axos Financial (NYSE:AX) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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

Axos Financial Stock Down 0.5 %

Shares of NYSE AX opened at $83.59 on Wednesday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 10.12 and a beta of 1.38. Axos Financial has a 52 week low of $32.05 and a 52 week high of $85.13. The firm has a 50-day moving average price of $66.09 and a 200 day moving average price of $62.93. 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, beating analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same period last year, the firm earned $1.41 EPS. Equities research analysts anticipate that Axos Financial will post 7.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory Garrabrants sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of the firm’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 sale, the chief executive officer now directly owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew J. Micheletti sold 5,197 shares of the company’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 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axos Financial

A number of large investors have recently bought and sold shares of AX. Lazard Asset Management LLC grew its holdings in shares of 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 purchasing an additional 14,953 shares during the period. First Eagle Investment Management LLC increased its position in shares of Axos Financial by 7.2% in the first quarter. First Eagle Investment Management LLC now owns 187,572 shares of the company’s stock worth $10,136,000 after acquiring an additional 12,650 shares in the last quarter. M&G Plc purchased a new stake in Axos Financial during the 1st quarter worth $8,249,000. SG Americas Securities LLC increased its holdings in Axos Financial by 453.9% in the 2nd 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in Axos Financial by 19.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 50,460 shares of the company’s stock valued at $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.

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.