JPMorgan Chase & Co. Lowers American Express (NYSE:AXP) Price Target to $132.00

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American Express (NYSE:AXP) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $135.00 to $132.00 in a research report issued on Monday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the payment services company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.96% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of West Fraser Timber from C$78.00 to C$74.00 in a research report on Monday. UBS Group assumed coverage on shares of Molecular Templates in a research report on Monday, April 29th. They set a “buy” rating and a $12.00 price objective on the stock. ValuEngine cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Oppenheimer set a $119.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada decreased their target price on shares of West Fraser Timber from C$77.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $124.38.

American Express stock opened at $128.20 on Monday. The firm’s fifty day moving average is $124.30. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.88 and a current ratio of 2.18. The stock has a market cap of $106.28 billion, a PE ratio of 17.49, a P/E/G ratio of 1.44 and a beta of 1.07. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $129.34.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.82 billion. American Express had a net margin of 16.60% and a return on equity of 29.78%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.84 EPS. On average, equities research analysts forecast that American Express will post 8.13 EPS for the current year.

In other American Express news, Chairman Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $114.69, for a total value of $1,720,350.00. Following the transaction, the chairman now owns 214,815 shares in the company, valued at $24,637,132.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $122.93, for a total transaction of $799,045.00. Following the completion of the transaction, the chief financial officer now owns 68,379 shares in the company, valued at approximately $8,405,830.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,048 shares of company stock worth $20,066,619. 0.21% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Camarda Financial Advisors LLC purchased a new position in shares of American Express in the first quarter valued at about $26,000. Creative Financial Designs Inc. ADV purchased a new position in shares of American Express in the first quarter valued at about $28,000. Clarfeld Financial Advisors LLC bought a new stake in shares of American Express during the 4th quarter valued at about $31,000. HMS Capital Management LLC bought a new stake in shares of American Express during the 2nd quarter valued at about $37,000. Finally, Edge Wealth Management LLC boosted its stake in shares of American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.

About American Express

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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