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

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

AX has been the subject of a number of other research reports. Wedbush cut their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. 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 upped their price objective on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler raised their target price 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 upped 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 note on Friday, November 1st. One investment 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 presently has an average rating of “Hold” and a consensus target price of $79.80.

Axos Financial Trading Down 1.6 %

Shares of NYSE:AX opened at $80.53 on Wednesday. Axos Financial has a 12-month low of $36.93 and a 12-month high of $85.54. The company has a market cap of $4.60 billion, a PE ratio of 9.75 and a beta of 1.38. The stock has a 50 day moving average of $66.68 and a 200 day moving average of $63.19. 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 (NYSE:AX) last released its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same quarter in the previous year, the company earned $1.41 EPS. As a group, equities research analysts expect that Axos Financial will post 7.02 EPS for the current year.

Insider Activity at Axos Financial

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 in the company, valued at approximately $26,776,526.37. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $10,236,250.00. Following the transaction, the chief executive officer now owns 1,340,377 shares in the company, valued at $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. 5.07% of the stock is currently owned by insiders.

Institutional Trading of Axos Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Axos Financial by 26.2% in the 2nd quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after acquiring an additional 321,494 shares in the last quarter. Wasatch Advisors LP grew its stake in Axos Financial by 34.0% in the third 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 last quarter. Geneva Capital Management LLC raised its holdings in Axos Financial by 0.3% in the third 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 raised its holdings in Axos Financial by 14.4% in the third quarter. Emerald Advisers LLC now owns 505,544 shares of the company’s stock worth $31,789,000 after purchasing an additional 63,458 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Axos Financial by 9.4% during the third quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock valued at $28,512,000 after buying an additional 39,091 shares during the last quarter. 83.79% of the stock is currently owned by 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.