Intercontinental Exchange (NYSE:ICE) Sets New 52-Week High - What's Next?

Key Points

• Intercontinental Exchange hit a new 52-week high, trading as high as $178.33, up from its previous close of $176.36.
• The company reported quarterly EPS of $2.02, beating the $1.97 consensus, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts maintain a Moderate Buy consensus, with an average price target of $189.25; recent target increases included $190 from Keefe, Bruyette & Woods and $194 from Barclays.

Shares of Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) reached a new 52-week high during trading on Wednesday. The stock traded as high as $178.33 and last traded at $178.1690, with a volume of 448,282 shares changing hands. The stock had previously closed at $176.36.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the stock an "outperform" rating in a report on Friday, October 30th. Piper Sandler reissued an "overweight" rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings upgraded Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 21st. Finally, Barclays raised their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the company an "overweight" rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $189.25.

Intercontinental Exchange Stock Performance

The firm has a market cap of $100.32 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The company's 50 day moving average is $159.21 and its 200 day moving average is $154.66.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the transaction, the insider owned 14,367 shares of the company's stock, valued at $2,307,196.53. This represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 15,863 shares of the company's stock, valued at approximately $2,538,080. The trade was a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,466 shares of company stock worth $7,493,200 over the last three months. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth $26,000. Gables Capital Management Inc. acquired a new stake in Intercontinental Exchange in the second quarter valued at $31,000. James T. Borello RIA raised its position in Intercontinental Exchange by 143.0% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider's stock worth $32,000 after purchasing an additional 123 shares during the last quarter. Hughes Financial Services LLC raised its position in Intercontinental Exchange by 64.4% during the 3rd quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider's stock worth $32,000 after purchasing an additional 76 shares during the last quarter. Finally, Fiduciary Financial Advisors acquired a new position in Intercontinental Exchange during the 2nd quarter worth about $33,000. 89.30% of the stock is owned by institutional investors.

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.

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