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Axos Financial (NYSE:AX) Cut to “Sell” at Zacks Investment Research


Axos Financial (NYSE:AX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Axos Financial Inc. is the holding company for BofI Federal Bank, which provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors and selected specialty finance receivables. BofI Federal Bank provides consumer and business banking products. Axos Financial Inc., formerly known as BofI Holding Inc., is based in San Diego, California. “

Other equities research analysts also recently issued reports about the company. Raymond James boosted their price target on Axos Financial from $53.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Monday, August 2nd. Sidoti initiated coverage on Axos Financial in a research report on Monday, June 21st. They issued a “buy” rating and a $58.00 price objective on the stock. Finally, B. Riley increased their price target on Axos Financial from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Axos Financial has an average rating of “Buy” and a consensus price target of $53.33.

AX traded up $1.80 during trading on Wednesday, hitting $50.46. 363,337 shares of the company’s stock were exchanged, compared to its average volume of 265,663. Axos Financial has a fifty-two week low of $22.85 and a fifty-two week high of $54.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.00 billion, a P/E ratio of 14.10 and a beta of 1.74. The business’s 50 day moving average is $47.69 and its two-hundred day moving average is $47.22.

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Axos Financial (NYSE:AX) last issued its earnings results on Wednesday, July 28th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $158.46 million during the quarter, compared to analyst estimates of $159.91 million. Axos Financial had a net margin of 29.81% and a return on equity of 16.91%. On average, sell-side analysts forecast that Axos Financial will post 3.51 earnings per share for the current year.

A number of large investors have recently bought and sold shares of AX. Parametric Portfolio Associates LLC increased its holdings in shares of Axos Financial by 4.6% in the second quarter. Parametric Portfolio Associates LLC now owns 223,640 shares of the company’s stock valued at $10,375,000 after buying an additional 9,772 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG raised its holdings in Axos Financial by 2.0% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 41,123 shares of the company’s stock worth $1,908,000 after purchasing an additional 787 shares during the period. Morgan Stanley raised its holdings in shares of Axos Financial by 49.6% during the second quarter. Morgan Stanley now owns 314,358 shares of the company’s stock worth $14,584,000 after acquiring an additional 104,264 shares during the period. Orchard Capital Managment LLC grew its position in Axos Financial by 23.5% in the second quarter. Orchard Capital Managment LLC now owns 446,571 shares of the company’s stock valued at $20,716,000 after purchasing an additional 84,859 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Axos Financial by 11.2% during the 2nd quarter. Invesco Ltd. now owns 195,182 shares of the company’s stock worth $9,055,000 after buying an additional 19,645 shares during the last quarter. Institutional investors and hedge funds own 76.08% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc is a holding company, which engages in the provision of banking and financing services. It operates through the following segments: Banking Business and Securities Business. The Banking Business segment includes online banking, concierge banking, prepaid card services, and mortgage, vehicle, and unsecured lending through online and telephonic distribution channels.

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