Intercontinental Exchange (NYSE:ICE) Price Target Raised to $188.00 at JPMorgan Chase & Co.

Intercontinental Exchange (NYSE:ICE) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $171.00 to $188.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.29% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Finally, Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Price Performance

Shares of ICE traded down $1.45 during trading hours on Wednesday, hitting $164.49. 1,199,802 shares of the company were exchanged, compared to its average volume of 2,474,051. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $167.23. The company has a market cap of $94.35 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 2.62 and a beta of 1.08. The firm’s fifty day moving average is $161.03 and its 200 day moving average is $146.73.

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

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. This trade represents 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 at the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,532 shares of company stock valued at $1,358,709. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. boosted its stake in Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares in the last quarter. American National Bank boosted its position in shares of Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 69 shares in the last quarter. Veracity Capital LLC boosted its position in shares of Intercontinental Exchange by 3.4% during the 3rd quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 72 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Intercontinental Exchange by 3.4% in the 2nd 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. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Intercontinental Exchange by 1.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after buying an additional 74 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

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.