Intercontinental Exchange Inc. (NYSE:ICE – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $178.33 and last traded at $178.1690, with a volume of 448,282 shares traded. The stock had previously closed at $176.36.
Trending Headlines about Intercontinental Exchange
Here are a few of the latest headlines about ICE:
- Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
- Neutral Sentiment: One Seeking Alpha analysis maintained a bullish view after ICE’s 18% rally, but the sharp recent advance may also leave less room for near-term gains. Article: Intercontinental Exchange: Still a Buy After the 18% Rally
- Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on ICE. The Goldman Sachs Group lifted their price objective on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Deutsche Bank reiterated a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Finally, Argus dropped their price target on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.
View Our Latest Stock Analysis on Intercontinental Exchange
Intercontinental Exchange Stock Down 1.5%
The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $99.36 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. The business has a 50-day simple moving average of $160.03 and a 200-day simple moving average of $154.71.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the business posted $1.71 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.
Insider Transactions at Intercontinental Exchange
In related news, President Benjamin Jackson sold 400 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $177.90, for a total value of $71,160.00. Following the completion of the transaction, the president owned 156,532 shares in the company, valued at $27,847,042.80. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James Namkung sold 3,777 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the transaction, the chief accounting officer owned 10,325 shares of the company’s stock, valued at $1,806,875. This represents a 26.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,000 shares of company stock valued at $8,638,669 over the last quarter. Insiders own 0.84% of the company’s stock.
Institutional Investors Weigh In On Intercontinental Exchange
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Intercontinental Exchange in the second quarter valued at $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $714,869,000. Flossbach Von Storch SE purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $649,900,000. Bank of America Corp DE acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $521,557,000. Finally, Jupiter Topco LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $474,012,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.
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