American Express (AXP) Upgraded to Buy by Buckingham Research

American Express (NYSE:AXP) was upgraded by stock analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.

A number of other analysts have also commented on AXP. TheStreet upgraded shares of American Express from a “c+” rating to a “b+” rating in a research note on Wednesday, April 18th. Oppenheimer set a $117.00 price objective on shares of American Express and gave the stock a “buy” rating in a report on Tuesday, March 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of American Express in a report on Thursday, April 19th. Sandler O’Neill set a $109.00 price objective on shares of American Express and gave the stock a “buy” rating in a report on Thursday, March 15th. Finally, Royal Bank of Canada lifted their price objective on shares of American Express to $86.00 and gave the stock an “underperform” rating in a report on Thursday, April 19th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $107.45.

Shares of AXP stock opened at $96.97 on Friday. The firm has a market cap of $83.42 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.31 and a beta of 1.10. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a 12 month low of $83.16 and a 12 month high of $103.24.

American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.15. The business had revenue of $9.72 billion during the quarter, compared to analyst estimates of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. American Express’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.34 EPS. analysts forecast that American Express will post 7.23 EPS for the current year.

In other news, insider L Kevin Cox sold 2,975 shares of the company’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $99.50, for a total transaction of $296,012.50. Following the sale, the insider now directly owns 19,249 shares in the company, valued at $1,915,275.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Douglas E. Buckminster sold 3,804 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $99.03, for a total value of $376,710.12. Following the sale, the insider now owns 19,514 shares in the company, valued at $1,932,471.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,936 shares of company stock worth $8,082,400. Company insiders own 0.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AXP. Certified Advisory Corp bought a new position in shares of American Express in the fourth quarter worth approximately $101,000. Archford Capital Strategies LLC bought a new position in shares of American Express in the first quarter worth approximately $123,000. Delpha Capital Management LLC bought a new position in shares of American Express in the fourth quarter worth approximately $138,000. Focused Wealth Management Inc bought a new position in shares of American Express in the fourth quarter worth approximately $139,000. Finally, Private Ocean LLC increased its position in shares of American Express by 14,070.0% in the first quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock worth $132,000 after purchasing an additional 1,407 shares during the last quarter. Hedge funds and other institutional investors own 82.84% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

The Fly

Analyst Recommendations for American Express (NYSE:AXP)

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