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

Intercontinental Exchange (NYSE:ICE - Get Free Report) had its price objective decreased by analysts at JPMorgan Chase & Co. from $190.00 to $189.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 26.78% from the stock's current price.

A number of other brokerages have also recently weighed in on ICE. Barclays decreased their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a "buy" rating and a $182.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $183.00 to $178.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $1.16 during trading on Friday, hitting $149.07. The company had a trading volume of 3,301,963 shares, compared to its average volume of 2,416,945. The stock's 50-day moving average is $153.20 and its two-hundred day moving average is $155.53. The stock has a market capitalization of $85.59 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange will post 6.06 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction 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 owns 66,548 shares of the company's stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Intercontinental Exchange

Several institutional investors have recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. Wolff Wiese Magana LLC grew its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider's stock valued at $27,000 after buying an additional 87 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth $29,000. 89.30% of the stock is 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.