Needham & Company LLC Forecasts Strong Price Appreciation for Axos Financial (NYSE:AX) Stock

Axos Financial (NYSE:AX) had its price objective upped by equities research analysts at Needham & Company LLC from $85.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 26.24% from the stock’s current price.

Several other brokerages also recently weighed in on AX. Keefe, Bruyette & Woods raised their price target on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Axos Financial currently has an average rating of “Moderate Buy” and an average target price of $84.17.

Axos Financial Price Performance

AX opened at $69.71 on Wednesday. The stock has a fifty day simple moving average of $74.53 and a two-hundred day simple moving average of $70.31. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 8.44 and a beta of 1.46. Axos Financial has a 12-month low of $44.10 and a 12-month high of $88.46.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. Research analysts predict that Axos Financial will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axos Financial news, Director Edward James Ratinoff sold 4,002 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly 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 owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of Axos Financial during the 3rd quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial during the 4th quarter valued at about $35,000. Farther Finance Advisors LLC lifted its position in shares of Axos Financial by 881.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after buying an additional 582 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Axos Financial during the 3rd quarter valued at about $41,000. Finally, R Squared Ltd purchased a new position in shares of Axos Financial during the 4th quarter valued at about $66,000. 83.79% of the stock is owned by hedge funds and other 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.