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

Intercontinental Exchange (NYSE:ICE) had its target price dropped by research analysts at JPMorgan Chase & Co. from $190.00 to $189.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 26.78% from the stock’s previous close.

ICE has been the subject of several other research reports. Barclays cut their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a report on Monday, January 13th. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $149.07 on Friday. The business has a 50-day simple moving average of $153.20 and a two-hundred day simple moving average of $155.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $85.59 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth 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.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts expect that Intercontinental Exchange will post 6.06 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Several hedge funds have recently modified their holdings of the company. Fairscale Capital LLC bought a new stake in Intercontinental Exchange in the second quarter worth $25,000. Wolff Wiese Magana LLC increased its holdings in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange in the third quarter worth about $29,000. 89.30% of the stock is owned by hedge funds and other 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.