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

Intercontinental Exchange, Inc. (NYSE:ICE) shares reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $165.00.

ICE has been the topic of several other research reports. Barclays lifted their price target on Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $173.93.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its stake in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC boosted its stake in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after buying an additional 66 shares during the period. American National Bank boosted its stake in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares during the period. Veracity Capital LLC boosted its stake in shares of Intercontinental Exchange by 3.4% in the third quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider’s stock valued at $354,000 after buying an additional 72 shares during the period. Finally, Catalyst Financial Partners LLC boosted its stake in shares of Intercontinental Exchange by 3.4% in the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after buying an additional 73 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.0 %

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 firm has a market capitalization of $94.82 billion, a P/E ratio of 37.92, a PEG ratio of 2.62 and a beta of 1.08. The firm has a 50 day moving average of $161.43 and a 200-day moving average of $147.00.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.