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Axos Financial (NYSE:AX) Receives "Buy (B)" Rating from Weiss Ratings

Axos Financial logo with Finance background

Key Points

  • Weiss Ratings has reissued a "Buy (B)" rating for Axos Financial (NYSE: AX), indicating confidence in the stock's performance.
  • Recent analyses from various firms have led to upgrades in Axos Financial's ratings and target prices, with the consensus rating currently standing at "Moderate Buy" and a target price of $96.83.
  • Axos Financial reported strong quarterly earnings, beating estimates with an EPS of $1.94 and revenue of $321.45 million, indicating a 10.5% year-over-year revenue growth.
  • Five stocks to consider instead of Axos Financial.

Axos Financial (NYSE:AX - Get Free Report)'s stock had its "buy (b)" rating reissued by research analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other research firms have also recently issued reports on AX. Wall Street Zen upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods increased their target price on shares of Axos Financial from $94.00 to $100.00 and gave the stock a "market perform" rating in a research note on Monday, September 29th. DA Davidson increased their target price on shares of Axos Financial from $100.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Raymond James Financial reiterated an "outperform" rating and issued a $100.00 target price (up from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Finally, Needham & Company LLC increased their target price on shares of Axos Financial from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.83.

Check Out Our Latest Stock Report on AX

Axos Financial Stock Performance

AX traded up $2.75 during midday trading on Tuesday, reaching $83.62. The company had a trading volume of 54,264 shares, compared to its average volume of 379,380. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $4.73 billion, a PE ratio of 11.20 and a beta of 1.29. Axos Financial has a 12-month low of $54.46 and a 12-month high of $93.84. The business has a 50-day moving average price of $87.80 and a two-hundred day moving average price of $77.44.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. The company had revenue of $321.45 million for the quarter, compared to analysts' expectations of $311.73 million. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. Axos Financial's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 EPS. On average, sell-side analysts expect that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Axos Financial

In related news, EVP Candace L. Thiele sold 700 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $90.14, for a total transaction of $63,098.00. Following the transaction, the executive vice president owned 23 shares of the company's stock, valued at approximately $2,073.22. This trade represents a 96.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the transaction, the executive vice president directly owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their position. The disclosure for this sale can be found here. 4.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axos Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock valued at $34,000 after buying an additional 333 shares during the period. IFP Advisors Inc boosted its position in Axos Financial by 360.7% during the 2nd quarter. IFP Advisors Inc now owns 493 shares of the company's stock valued at $37,000 after buying an additional 386 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Axos Financial during the 2nd quarter valued at $96,000. Finally, Sprucegrove Investment Management Ltd. purchased a new stake in Axos Financial during the 2nd quarter valued at $99,000. Institutional investors own 83.79% of the company's stock.

About Axos Financial

(Get Free Report)

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.

See Also

Analyst Recommendations for Axos Financial (NYSE:AX)

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.

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