Intercontinental Exchange (NYSE:ICE) Hits New 1-Year High – Time to Buy?

Intercontinental Exchange Inc. (NYSE:ICE) shares hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $178.33 and last traded at $178.1690, with a volume of 448,282 shares. The stock had previously closed at $176.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ICE. TD Cowen lifted their price objective on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research note on Friday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Argus lowered their price target on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Intercontinental Exchange Stock Performance

The stock has a market capitalization of $100.32 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 1.53 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $159.21 and a two-hundred day moving average price of $154.66.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the transaction, the president directly owned 164,264 shares in the company, valued at approximately $26,297,023.76. This represents a 7.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 45,466 shares of company stock valued at $7,493,200. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of the stock. Kintegral Advisory LLC raised its holdings in shares of Intercontinental Exchange by 0.6% during the third quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider’s stock valued at $1,738,000 after purchasing an additional 64 shares during the period. Gilpin Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 6.3% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock valued at $170,000 after buying an additional 66 shares during the period. Cornerstone Planning Group LLC increased its position in Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after buying an additional 68 shares in the last quarter. Chemistry Wealth Management LLC increased its position in Intercontinental Exchange by 0.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 68 shares in the last quarter. Finally, Capstone Financial Advisors Inc. increased its position in Intercontinental Exchange by 1.4% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock valued at $630,000 after buying an additional 69 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.