JPMorgan Chase & Co. Increases Intercontinental Exchange (NYSE:ICE) Price Target to $151.00

Intercontinental Exchange (NYSE:ICE) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $147.00 to $151.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.71% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Bank of America lowered their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Barclays reduced their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler upped their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.92.

Intercontinental Exchange Price Performance

NYSE ICE traded up $3.96 during midday trading on Friday, hitting $130.50. The company had a trading volume of 3,990,207 shares, compared to its average volume of 2,426,097. The company has a market capitalization of $74.73 billion, a PE ratio of 31.07, a P/E/G ratio of 2.11 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $135.17 and a 200-day moving average price of $125.68. Intercontinental Exchange has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Intercontinental Exchange’s revenue was up 20.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,070 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the transaction, the senior vice president now owns 18,383 shares in the company, valued at approximately $2,501,742.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares in the company, valued at approximately $2,276,461.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the transaction, the senior vice president now owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,832 shares of company stock worth $21,499,127. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ICE. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after purchasing an additional 1,012,034 shares during the last quarter. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. Capital World Investors lifted its holdings in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares during the last quarter. Parnassus Investments LLC raised its stake in Intercontinental Exchange by 23.8% in the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after buying an additional 1,621,737 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Intercontinental Exchange by 3.9% in the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after purchasing an additional 282,963 shares in the last quarter. 89.30% of the stock is currently 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.