Needham & Company LLC Reaffirms Buy Rating for Axos Financial (NYSE:AX)

Needham & Company LLC reiterated their buy rating on shares of Axos Financial (NYSE:AX - Free Report) in a report published on Thursday morning,Benzinga reports. They currently have a $85.00 price objective on the stock.

A number of other research firms also recently issued reports on AX. Wedbush lowered their price target 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. StockNews.com raised Axos Financial from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their target price on Axos Financial from $74.00 to $91.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.20.

Axos Financial Stock Down 0.8 %

Shares of NYSE:AX traded down $0.54 during trading hours on Thursday, reaching $68.97. The stock had a trading volume of 446,065 shares, compared to its average volume of 362,233. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.35 and a beta of 1.46. The firm's 50 day moving average is $76.75 and its 200-day moving average is $68.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.16. The business 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 period in the previous year, the company posted $1.41 EPS. Research analysts predict that Axos Financial will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the completion of the transaction, the director now owns 46,209 shares in the company, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the business'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 completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.07% of the company's stock.

Institutional Trading of Axos Financial

Large investors have recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. bought a new position in shares of Axos Financial during the 3rd quarter worth approximately $27,000. Hollencrest Capital Management bought a new stake in Axos Financial during the second quarter worth $25,000. Farther Finance Advisors LLC boosted 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 worth $41,000 after purchasing an additional 582 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Axos Financial in the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC increased its position in shares of Axos Financial by 45.7% during the 3rd quarter. GAMMA Investing LLC now owns 982 shares of the company's stock valued at $62,000 after purchasing an additional 308 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Company Profile

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.