Barclays Boosts American Express (AXP) Price Target to $119.00

American Express (NYSE:AXP) had its target price upped by equities research analysts at Barclays from $112.00 to $119.00 in a research note issued to investors on Friday. Barclays’ price target points to a potential upside of 21.39% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Bank of America reiterated a “buy” rating and issued a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Oppenheimer set a $99.00 target price on American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $116.00 price objective on shares of American Express in a research report on Friday, December 22nd. Finally, Deutsche Bank started coverage on American Express in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.80.

Shares of American Express (AXP) traded down $1.83 during midday trading on Friday, reaching $98.03. The company had a trading volume of 12,292,242 shares, compared to its average volume of 3,876,592. The stock has a market capitalization of $85,090.00, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.44 and a beta of 1.22. American Express has a 52-week low of $75.39 and a 52-week high of $102.39. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. American Express’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. sell-side analysts anticipate that American Express will post 5.85 earnings per share for the current year.

In related news, insider Anre D. Williams sold 30,761 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the transaction, the insider now directly owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,869 shares of company stock valued at $42,823,869. Corporate insiders own 0.67% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXP. NEXT Financial Group Inc raised its stake in American Express by 0.7% in the 2nd quarter. NEXT Financial Group Inc now owns 25,770 shares of the payment services company’s stock valued at $2,171,000 after purchasing an additional 176 shares during the last quarter. Trust Co. of Vermont raised its stake in American Express by 2.9% in the 2nd quarter. Trust Co. of Vermont now owns 17,789 shares of the payment services company’s stock valued at $1,499,000 after purchasing an additional 500 shares during the last quarter. Cullinan Associates Inc. raised its stake in American Express by 5.3% in the 2nd quarter. Cullinan Associates Inc. now owns 79,827 shares of the payment services company’s stock valued at $6,725,000 after purchasing an additional 4,015 shares during the last quarter. Fisher Asset Management LLC raised its stake in American Express by 3.4% in the 2nd quarter. Fisher Asset Management LLC now owns 11,247,348 shares of the payment services company’s stock valued at $947,477,000 after purchasing an additional 368,347 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in American Express by 117.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,248 shares of the payment services company’s stock valued at $526,000 after purchasing an additional 3,380 shares during the last quarter. 83.36% of the stock is owned by hedge funds and other institutional investors.

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About American Express

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

Analyst Recommendations for American Express (NYSE:AXP)

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