Intercontinental Exchange (NYSE:ICE) Sets New 12-Month High at $162.40

Intercontinental Exchange, Inc. (NYSE:ICE)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $162.40 and last traded at $162.11, with a volume of 528700 shares changing hands. The stock had previously closed at $161.55.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ICE shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup lifted their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Argus restated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Intercontinental Exchange Stock Performance

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $93.26 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08. The stock’s 50-day simple moving average is $151.12 and its 200 day simple moving average is $140.84.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company earned $1.43 EPS. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. Analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold a total of 66,346 shares of company stock worth $9,472,911 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Annapolis Financial Services LLC lifted its stake in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $25,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange in the first quarter valued at about $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.