JPMorgan Chase & Co. Increases Intercontinental Exchange (NYSE:ICE) Price Target to $98.00

Intercontinental Exchange (NYSE:ICE) had its price target increased by JPMorgan Chase & Co. from $97.00 to $98.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also commented on ICE. FIX assumed coverage on shares of Intercontinental Exchange in a research note on Monday, September 16th. They set an outperform rating and a $100.00 target price for the company. Oppenheimer assumed coverage on shares of Intercontinental Exchange in a research note on Monday, September 16th. They set an outperform rating and a $100.00 target price for the company. Citigroup lowered shares of Intercontinental Exchange from a buy rating to a neutral rating and increased their target price for the company from $92.00 to $99.00 in a research note on Monday, July 22nd. Finally, Raymond James increased their target price on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the company an outperform rating in a research note on Friday, July 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $90.71.

Shares of NYSE:ICE opened at $92.33 on Wednesday. The company has a 50 day moving average of $92.05 and a 200-day moving average of $84.47. The firm has a market cap of $52.42 billion, a P/E ratio of 25.63, a P/E/G ratio of 3.09 and a beta of 0.50. Intercontinental Exchange has a twelve month low of $69.69 and a twelve month high of $95.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.40.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts forecast that Intercontinental Exchange will post 3.76 EPS for the current year.

In related news, Vice Chairman Charles A. Vice sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $86.74, for a total transaction of $1,301,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean Marc Forneri sold 2,968 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $93.55, for a total transaction of $277,656.40. Following the completion of the sale, the director now owns 19,932 shares of the company’s stock, valued at approximately $1,864,638.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,295 shares of company stock valued at $15,842,230. Company insiders own 1.50% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Intercontinental Exchange by 1.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 159,357 shares of the financial services provider’s stock valued at $13,695,000 after acquiring an additional 2,865 shares in the last quarter. Atria Investments LLC lifted its position in shares of Intercontinental Exchange by 17.0% in the 2nd quarter. Atria Investments LLC now owns 23,904 shares of the financial services provider’s stock valued at $2,187,000 after acquiring an additional 3,480 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $776,000. BlackRock Inc. lifted its position in shares of Intercontinental Exchange by 1.5% in the 2nd quarter. BlackRock Inc. now owns 33,727,734 shares of the financial services provider’s stock valued at $2,898,562,000 after acquiring an additional 488,675 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in shares of Intercontinental Exchange by 5.1% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 4,233 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 206 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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