Axos Financial’s (AX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axos Financial (NYSE:AX) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $85.00 price objective on the stock.

Several other research firms also recently issued reports on AX. Keefe, Bruyette & Woods lifted their price target on shares of Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Wedbush reduced their price objective on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.20.

Axos Financial Price Performance

AX stock opened at $66.76 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50-day moving average is $76.79 and its 200-day moving average is $69.11. The stock has a market capitalization of $3.81 billion, a PE ratio of 8.08 and a beta of 1.46. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 business had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities research analysts expect that Axos Financial will post 7.07 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In other Axos Financial news, 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 value of $10,236,250.00. Following the transaction, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. The trade was a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Institutional investors have recently added to or reduced their stakes in the stock. Kathleen S. Wright Associates Inc. bought a new stake in shares of Axos Financial in the third quarter valued at $27,000. Hollencrest Capital Management purchased a new stake in Axos Financial in the 2nd quarter worth about $25,000. Farther Finance Advisors LLC raised its stake in Axos Financial by 881.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after acquiring an additional 582 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Axos Financial during the third quarter valued at about $41,000. Finally, GAMMA Investing LLC boosted its position in Axos Financial by 45.7% during the third quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock worth $62,000 after purchasing an additional 308 shares during the period. 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.