JPMorgan Chase & Co. Lowers Intercontinental Exchange (NYSE:ICE) Price Target to $180.00

Intercontinental Exchange (NYSE:ICE) had its price objective dropped by analysts at JPMorgan Chase & Co. from $202.00 to $180.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 23.20% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. TD Cowen decreased their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. Morgan Stanley decreased their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Finally, Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.82.

Intercontinental Exchange Trading Down 1.6%

Shares of NYSE ICE opened at $146.10 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $83.63 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Intercontinental Exchange has a 1-year low of $142.29 and a 1-year high of $189.35. The business has a fifty day moving average price of $165.55 and a 200 day moving average price of $173.50.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. Equities research analysts expect that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth about $28,000. Activest Wealth Management grew its holdings in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth about $29,000. McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange during the first quarter worth about $30,000. Finally, Private Wealth Management Group LLC grew its holdings in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares during the period. 89.30% of the stock is currently 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.