Intercontinental Exchange (NYSE:ICE - Get Free Report) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $147.00 to $151.00 in a report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 15.71% from the stock's previous close.
Several other research analysts have also recently issued reports on ICE. Raymond James increased their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 5th. Morgan Stanley raised their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. UBS Group raised their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, February 12th. Citigroup raised their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. Finally, Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a "buy" rating for the company in a research note on Friday, April 19th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.92.
Read Our Latest Report on Intercontinental Exchange
Intercontinental Exchange Stock Performance
NYSE ICE traded up $3.96 during trading hours on Friday, hitting $130.50. The company had a trading volume of 3,990,207 shares, compared to its average volume of 2,426,097. Intercontinental Exchange has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $135.17 and a 200-day simple moving average of $125.68. The firm has a market cap of $74.73 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $1.41 earnings per share. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange will post 5.95 EPS for the current year.
Insider Activity at Intercontinental Exchange
In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 over the last 90 days. Corporate insiders own 1.10% of the company's stock.
Institutional Trading of Intercontinental Exchange
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider's stock valued at $1,336,371,000 after buying an additional 8,348,126 shares during the period. Norges Bank purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $839,259,000. Capital World Investors raised its stake in Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider's stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider's stock worth $305,832,000 after purchasing an additional 1,790,493 shares during the period. Finally, Parnassus Investments LLC raised its stake in Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider's stock worth $1,082,646,000 after purchasing an additional 1,621,737 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.
Intercontinental Exchange Company Profile
(
Get Free Report)
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.
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