Axos Financial (AX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a research report released on Friday.

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 analysts have also recently issued reports about the stock. DA Davidson cut their target price on shares of Axos Financial to $40.00 and set a buy rating on the stock in a report on Thursday, October 25th. Raymond James raised shares of Axos Financial from an outperform rating to a strong-buy rating and set a $46.00 target price on the stock in a report on Wednesday, October 3rd.

AX stock traded down $0.59 during midday trading on Friday, reaching $28.91. 376,603 shares of the company were exchanged, compared to its average volume of 348,944. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.05. Axos Financial has a 1-year low of $26.56 and a 1-year high of $45.18. The stock has a market cap of $1.85 billion, a P/E ratio of 11.35, a PEG ratio of 1.00 and a beta of 0.38.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Wednesday, October 24th. The company reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Axos Financial had a net margin of 27.57% and a return on equity of 17.81%. The company had revenue of $102.82 million for the quarter, compared to analysts’ expectations of $106.61 million. On average, equities research analysts predict that Axos Financial will post 2.95 earnings per share for the current year.

Axos Financial Company Profile

Axos Financial, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; prime loans to customers secured by new and used automobiles; and term unsecured personal loans to individual borrowers, as well as overdraft lines of credit.

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