Intercontinental Exchange (NYSE:ICE) Price Target Raised to $171.00

Intercontinental Exchange (NYSE:ICE) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $151.00 to $171.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 5.61% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Argus reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Barclays increased their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.36.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $1.00 on Monday, hitting $161.91. 404,296 shares of the company were exchanged, compared to its average volume of 2,459,359. The firm has a market capitalization of $92.87 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $163.71. The stock’s 50 day moving average price is $154.20 and its 200 day moving average price is $142.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results 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. The company 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 was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 EPS. Sell-side analysts predict that Intercontinental Exchange will post 6.04 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s 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 transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. Insiders sold 67,096 shares of company stock worth $9,593,983 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Several large investors have recently bought and sold shares of ICE. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the period. Capital World Investors boosted its position in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after acquiring an additional 2,530,119 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Intercontinental Exchange by 303.1% in 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 valued at $305,832,000 after purchasing an additional 1,790,493 shares during the period. Finally, Parnassus Investments LLC increased its position 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 last quarter. 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.