JPMorgan Chase & Co. Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $189.00

Intercontinental Exchange (NYSE:ICE) had its price objective cut by JPMorgan Chase & Co. from $190.00 to $189.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

ICE has been the topic of several other reports. Piper Sandler raised their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. 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. Finally, TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $149.07 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $153.20 and a 200-day moving average price of $155.63. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99. The firm has a market capitalization of $85.59 billion, a PE ratio of 35.33, a P/E/G ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. As a group, equities research analysts expect that Intercontinental Exchange will post 6.06 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock valued at $2,120,572 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the business. Quintet Private Bank Europe S.A. grew its stake in shares of Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after buying an additional 62 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Intercontinental Exchange by 26.4% in 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. Integrated Advisors Network LLC grew its position in Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares in the last quarter. Commons Capital LLC increased its stake in Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 70 shares during the period. Institutional investors own 89.30% of the company’s stock.

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.