Intercontinental Exchange (NYSE:ICE) Hits New 1-Year High – Should You Buy?

by · The Markets Daily

Intercontinental Exchange, Inc. (NYSE:ICE – Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $164.67 and last traded at $164.44, with a volume of 507801 shares changing hands. The stock had previously closed at $162.57.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group raised their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday. Barclays raised their target price on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Piper Sandler raised their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.67.

Read Our Latest Analysis on Intercontinental Exchange

Intercontinental Exchange Stock Performance

The company has a market cap of $94.29 billion, a PE ratio of 37.70, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $159.19 and its two-hundred day simple moving average is $145.34.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,532 shares of company stock worth $1,507,309. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. American National Bank lifted its holdings in Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 69 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in Intercontinental Exchange by 3.4% during the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Intercontinental Exchange by 1.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 74 shares in the last quarter. Founders Financial Securities LLC lifted its holdings in Intercontinental Exchange by 4.8% during the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 74 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its holdings in Intercontinental Exchange by 3.7% during the second quarter. HBK Sorce Advisory LLC now owns 2,112 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 75 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

About Intercontinental Exchange

(Get Free Report)

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.

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