Axos Financial (NYSE:AX) Given "Buy" Rating at Needham & Company LLC

Axos Financial (NYSE:AX - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $88.00 target price on the stock. Needham & Company LLC's price target would suggest a potential upside of 30.51% from the company's current price.

A number of other research analysts have also weighed in on AX. Raymond James reissued an "outperform" rating and issued a $80.00 target price (up from $75.00) on shares of Axos Financial in a research note on Wednesday, January 29th. DA Davidson dropped their target price on Axos Financial from $96.00 to $88.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reduced their price target on Axos Financial from $91.00 to $90.00 and set a "market perform" rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

Axos Financial Price Performance

Shares of AX stock traded down $0.24 during mid-day trading on Thursday, hitting $67.43. 90,197 shares of the stock were exchanged, compared to its average volume of 521,371. Axos Financial has a 52-week low of $44.10 and a 52-week high of $88.46. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.80 billion, a PE ratio of 9.05 and a beta of 1.25. The firm has a fifty day moving average of $62.59 and a 200 day moving average of $69.56.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.07. The company had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. During the same quarter in the prior year, the business posted $1.91 earnings per share. Research analysts anticipate that Axos Financial will post 7.22 earnings per share for the current year.

Insider Activity at Axos Financial

In related news, Director Sara Wardell-Smith bought 3,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now directly owns 10,250 shares of the company's stock, valued at $663,482.50. This trade represents a 41.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.07% of the company's stock.

Institutional Trading of Axos Financial

Several hedge funds have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in Axos Financial in the fourth quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in shares of Axos Financial during the fourth quarter worth about $52,000. NewEdge Advisors LLC lifted its holdings in shares of Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after purchasing an additional 850 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Axos Financial in the 4th quarter valued at about $66,000. Finally, SRS Capital Advisors Inc. grew its stake in Axos Financial by 238.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after buying an additional 773 shares during the last quarter. Institutional investors and hedge funds 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.