Intercontinental Exchange (NYSE:ICE) Reaches New 52-Week High After Analyst Upgrade

Intercontinental Exchange, Inc. (NYSE:ICE)’s stock price hit a new 52-week high on Friday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock traded as high as $163.95 and last traded at $163.90, with a volume of 30883 shares changing hands. The stock had previously closed at $163.26.

Several other brokerages also recently issued reports on ICE. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Bank of America upped their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.13.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 68,316 shares of company stock valued at $9,835,609 in the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently modified their holdings of ICE. Fairscale Capital LLC bought a new stake in Intercontinental Exchange in the second quarter valued at about $25,000. Annapolis Financial Services LLC grew its position in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the 1st quarter worth approximately $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $93.80 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.81 and a beta of 1.08. The stock’s fifty day moving average is $157.92 and its 200-day moving average is $144.16.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

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.