JPMorgan Chase & Co. Issues Positive Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its price target hoisted by JPMorgan Chase & Co. from $195.00 to $203.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages also recently commented on ICE. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Barclays increased their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $197.36.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $167.20 on Thursday. Intercontinental Exchange has a 52-week low of $142.29 and a 52-week high of $189.35. The company’s 50 day moving average is $178.56 and its two-hundred day moving average is $174.90. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $95.71 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 231,669 shares of company stock worth $42,333,438. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ICE. Norges Bank purchased a new position in Intercontinental Exchange during the 2nd quarter worth $1,542,780,000. Price T Rowe Associates Inc. MD grew its position in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Nuveen LLC purchased a new position in Intercontinental Exchange during the 1st quarter worth $575,383,000. Wellington Management Group LLP grew its position in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares during the last quarter. Finally, Sands Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

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.