StockNews.com Downgrades Axos Financial (NYSE:AX) to Sell

StockNews.com cut shares of Axos Financial (NYSE:AX - Free Report) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other equities analysts have also recently issued reports on the stock. Raymond James lifted their target price 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 upped their target price on Axos Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Piper Sandler raised 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. Wedbush cut their price target on Axos Financial from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods increased their price objective on 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 equities 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.80.

Axos Financial Stock Performance

NYSE AX traded down $1.80 during trading hours on Wednesday, hitting $81.79. 538,694 shares of the stock were exchanged, compared to its average volume of 583,425. Axos Financial has a 12-month low of $34.99 and a 12-month high of $85.54. The stock has a 50-day moving average of $66.09 and a 200 day moving average of $62.93. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 10.19 and a beta of 1.38. 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 - Get Free Report) last issued its 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 during 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 period in the prior year, the business posted $1.41 EPS. As a group, equities research analysts forecast that Axos Financial will post 7.02 earnings per share for the current year.

Insider Activity

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the stock in a transaction dated Monday, September 9th. The stock was 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 in the company, valued at approximately $26,776,526.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Andrew J. Micheletti sold 5,197 shares of the company's 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 sale, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction 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 in the company, valued at $109,763,472.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.07% of the company's stock.

Institutional Trading of Axos Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in Axos Financial during the second quarter worth approximately $25,000. EntryPoint Capital LLC lifted its holdings in shares of Axos Financial by 816.7% during the 1st quarter. EntryPoint Capital LLC now owns 495 shares of the company's stock valued at $27,000 after acquiring an additional 441 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in Axos Financial during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in Axos Financial in the 3rd quarter valued at $41,000. Finally, Farther Finance Advisors LLC raised its position in Axos Financial by 881.8% in the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company's stock valued at $41,000 after purchasing an additional 582 shares during the period. Institutional investors and hedge funds 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.