Intercontinental Exchange (NYSE:ICE) PT Raised to $188.00

Intercontinental Exchange (NYSE:ICE) had its price objective lifted by JPMorgan Chase & Co. from $171.00 to $188.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 14.29% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $173.93.

Intercontinental Exchange Stock Down 0.9 %

Shares of NYSE:ICE traded down $1.45 during midday trading on Wednesday, hitting $164.49. 1,199,802 shares of the company’s stock were exchanged, compared to its average volume of 2,474,051. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $167.23. The company has a market cap of $94.35 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The stock has a 50 day moving average price of $161.03 and a 200-day moving average price of $146.73.

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

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. 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 Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,532 shares of company stock worth $1,358,709. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently bought and sold shares of ICE. Dakota Wealth Management increased its holdings in shares of Intercontinental Exchange by 10.2% in the third quarter. Dakota Wealth Management now owns 4,978 shares of the financial services provider’s stock worth $800,000 after purchasing an additional 459 shares during the period. DT Investment Partners LLC increased its stake in Intercontinental Exchange by 30.1% in the 3rd quarter. DT Investment Partners LLC now owns 813 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 188 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after acquiring an additional 584,400 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its position in shares of Intercontinental Exchange by 0.3% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 97,078 shares of the financial services provider’s stock valued at $15,595,000 after acquiring an additional 296 shares during the last quarter. Finally, X Square Capital LLC purchased a new position in shares of Intercontinental Exchange during the third quarter worth about $267,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.