Intercontinental Exchange (NYSE:ICE) Sets New 12-Month High Following Analyst Upgrade

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $171.00 to $188.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Intercontinental Exchange traded as high as $167.37 and last traded at $167.24, with a volume of 2089522 shares traded. The stock had previously closed at $165.00.

A number of other analysts also recently commented on the company. Citigroup raised their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, October 4th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ICE. Wolff Wiese Magana LLC lifted its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange during the third quarter worth about $26,000. Financial Management Professionals Inc. lifted its holdings in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares in the last quarter. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the second quarter worth about $25,000. Finally, Annapolis Financial Services LLC lifted its holdings in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 1.0 %

The company has a fifty day simple moving average of $161.43 and a two-hundred day simple moving average of $147.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $94.82 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.