Instinet Raises American Express (AXP) Price Target to $108.00

American Express (NYSE:AXP) had its price target lifted by research analysts at Instinet from $91.72 to $108.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the payment services company’s stock. Instinet’s price objective would indicate a potential upside of 15.30% from the company’s current price.

Several other research firms have also commented on AXP. Stephens set a $97.00 target price on shares of American Express and gave the company a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Friday, January 12th. Credit Suisse Group reissued an “underperform” rating and set a $84.00 price target (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Thursday, January 11th. Finally, Oppenheimer set a $99.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $101.48.

American Express (AXP) traded up $1.95 during mid-day trading on Monday, hitting $93.67. 306,835 shares of the company traded hands, compared to its average volume of 4,171,005. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.90 and a current ratio of 2.37. American Express has a 52 week low of $75.51 and a 52 week high of $102.39. The company has a market cap of $79,612.62, a price-to-earnings ratio of 32.16, a P/E/G ratio of 1.26 and a beta of 1.19.

American Express (NYSE:AXP) last released its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.07%. The company had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter last year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. equities analysts predict that American Express will post 7.13 earnings per share for the current fiscal year.

In other news, insider Ashwini Gupta sold 57,306 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total value of $5,446,362.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Peter Bush sold 13,356 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the sale, the insider now directly owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,110 shares of company stock valued at $31,858,001. Corporate insiders own 0.67% of the company’s stock.

Large investors have recently bought and sold shares of the company. Westside Investment Management Inc. increased its stake in shares of American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares in the last quarter. Dearborn Partners LLC increased its stake in shares of American Express by 0.6% in the 2nd quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after acquiring an additional 18 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of American Express by 0.4% in the 2nd quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock worth $475,000 after acquiring an additional 25 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of American Express by 1.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock worth $241,000 after acquiring an additional 41 shares in the last quarter. Finally, Whalerock Point Partners LLC increased its stake in shares of American Express by 0.9% in the 2nd quarter. Whalerock Point Partners LLC now owns 4,755 shares of the payment services company’s stock worth $400,000 after acquiring an additional 42 shares in the last quarter. 83.37% of the stock is owned by hedge funds and other institutional investors.

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American Express Company Profile

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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