Axos Financial, Inc (NYSE:AX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Axos Financial has received a consensus rating of "Moderate Buy" from seven brokerages, with two hold recommendations and five buy recommendations. The average 1-year target price among these brokerages is $90.86.
• In recent insider trading activities, EVP Andrew J. Micheletti sold 13,960 shares at an average price of $85.38, indicating a significant 17.15% decrease in ownership.
• Axos Financial reported earnings per share of $1.94 for the last quarter, exceeding estimates, and recorded a 10.5% year-over-year increase in revenue to $321.45 million.

Axos Financial, Inc (NYSE:AX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $90.8571.

AX has been the subject of several recent research reports. DA Davidson raised their price target on Axos Financial from $96.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Jefferies Financial Group began coverage on Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. Wall Street Zen upgraded Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st.

Insider Activity at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the transaction, the executive vice president directly owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Candace L. Thiele sold 700 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $90.14, for a total value of $63,098.00. Following the transaction, the executive vice president directly owned 23 shares of the company's stock, valued at $2,073.22. This trade represents a 96.82% 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.

Institutional Trading of Axos Financial

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in Axos Financial by 120.9% during the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company's stock valued at $33,000 after acquiring an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock worth $34,000 after acquiring an additional 333 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Axos Financial by 360.7% in the second quarter. IFP Advisors Inc now owns 493 shares of the company's stock valued at $37,000 after purchasing an additional 386 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Axos Financial in the fourth quarter valued at $35,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Axos Financial in the second quarter valued at $96,000. Institutional investors own 83.79% of the company's stock.

Axos Financial Stock Down 0.8%

AX opened at $91.53 on Friday. Axos Financial has a 12 month low of $54.46 and a 12 month high of $93.84. The stock has a market capitalization of $5.17 billion, a P/E ratio of 12.27 and a beta of 1.32. The business has a 50 day simple moving average of $87.36 and a 200-day simple moving average of $74.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%.The firm had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. During the same period last year, the business posted $1.83 EPS. Axos Financial's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that Axos Financial will post 7.22 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.