Intercontinental Exchange (NYSE:ICE) Given New $189.00 Price Target at JPMorgan Chase & Co.

Intercontinental Exchange (NYSE:ICE) had its target price cut by stock analysts at JPMorgan Chase & Co. from $190.00 to $189.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 25.65% from the stock’s current price.

ICE has been the subject of several other reports. Morgan Stanley raised their target price on 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 started coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Trading Up 0.1 %

Shares of ICE stock traded up $0.19 during trading hours on Friday, hitting $150.42. 519,232 shares of the company were exchanged, compared to its average volume of 2,975,690. The firm has a market cap of $86.37 billion, a P/E ratio of 35.64, a P/E/G ratio of 2.29 and a beta of 1.10. Intercontinental Exchange has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a 50 day simple moving average of $153.47 and a two-hundred day simple moving average of $155.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange will post 6.06 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,533 shares of company stock worth $1,196,279. 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. State Street Corp increased its stake in shares of Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares during the last quarter. FMR LLC increased its holdings in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC raised its stake in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after acquiring an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after acquiring an additional 390,332 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.