Intercontinental Exchange (NYSE:ICE) Hits New 1-Year High at $151.95

Intercontinental Exchange, Inc. (NYSE:ICE) shares reached a new 52-week high on Monday . The stock traded as high as $151.95 and last traded at $151.95, with a volume of 842 shares trading hands. The stock had previously closed at $151.00.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Citigroup raised their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.07.

Intercontinental Exchange Price Performance

The stock has a market cap of $86.57 billion, a P/E ratio of 34.63, a PEG ratio of 2.68 and a beta of 1.06. The company has a 50 day simple moving average of $139.66 and a 200 day simple moving average of $135.68. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The disclosure for this sale can be found here. Insiders have sold 64,992 shares of company stock valued at $9,197,801 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently made changes to their positions in the business. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC lifted its holdings in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the second quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $26,000. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at about $28,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

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.