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

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $85.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 27.32% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped 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. Finally, Wedbush decreased their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.20.

Axos Financial Trading Down 3.1 %

Shares of AX stock opened at $66.76 on Thursday. The business has a 50-day moving average price of $76.77 and a two-hundred day moving average price of $68.93. Axos Financial has a 12-month low of $44.10 and a 12-month high of $88.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.81 billion, a P/E ratio of 8.08 and a beta of 1.46.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The company had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. During the same quarter in the previous year, the company posted $1.41 EPS. Equities analysts anticipate that Axos Financial will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of Axos Financial 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 sale, the director now owns 46,209 shares in the company, valued at $3,669,456.69. The trade was a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory Garrabrants sold 125,000 shares of the company’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 transaction, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in Axos Financial by 3.4% during the 2nd quarter. Natixis Advisors LLC now owns 18,303 shares of the company’s stock valued at $1,046,000 after acquiring an additional 603 shares during the period. Rhumbline Advisers lifted its holdings in shares of Axos Financial by 0.5% during the second quarter. Rhumbline Advisers now owns 167,534 shares of the company’s stock valued at $9,575,000 after purchasing an additional 895 shares during the last quarter. Quest Partners LLC boosted its position in shares of Axos Financial by 305.0% in the 2nd quarter. Quest Partners LLC now owns 5,569 shares of the company’s stock worth $318,000 after purchasing an additional 4,194 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Axos Financial in the 2nd quarter worth approximately $180,000. Finally, Texas Permanent School Fund Corp increased its position in Axos Financial by 32.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 58,843 shares of the company’s stock valued at $3,363,000 after buying an additional 14,523 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.