Axos Financial (NYSE:AX) Hits New 1-Year High - Time to Buy?

Axos Financial, Inc. (NYSE:AX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $84.33 and last traded at $82.57, with a volume of 85587 shares trading hands. The stock had previously closed at $80.62.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AX shares. Piper Sandler boosted their target price on Axos Financial from $68.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. StockNews.com lowered Axos Financial from a "hold" rating to a "sell" rating in a report on Thursday. Raymond James boosted their price target on Axos Financial from $67.00 to $81.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Wedbush lowered 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, Needham & Company LLC boosted their price target on Axos Financial from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Axos Financial presently has a consensus rating of "Hold" and a consensus price target of $79.80.

Axos Financial Stock Performance

The business has a 50-day moving average price of $65.78 and a 200-day moving average price of $62.72. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 10.17 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 released its earnings results 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 firm had revenue of $512.87 million for the quarter, compared to the consensus estimate of $299.59 million. During the same period in the prior year, the firm earned $1.41 EPS. As a group, sell-side analysts forecast that Axos Financial, Inc. will post 7.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $63.13, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Andrew J. Micheletti sold 5,197 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 424,149 shares in the company, valued at $26,776,526.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,340,377 shares of the company's stock, valued at $109,763,472.53. 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 insiders.

Hedge Funds Weigh In On Axos Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in shares of Axos Financial during the 2nd quarter worth $25,000. EntryPoint Capital LLC increased its stake in Axos Financial by 816.7% in the first quarter. EntryPoint Capital LLC now owns 495 shares of the company's stock valued at $27,000 after purchasing an additional 441 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in shares of Axos Financial during the third quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in Axos Financial during the third quarter worth about $41,000. Finally, Farther Finance Advisors LLC raised its holdings in Axos Financial by 881.8% during the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company's stock worth $41,000 after purchasing an additional 582 shares in the last quarter. 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.