JPMorgan Chase & Co. Has Lowered Expectations for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $190.00 to $189.00 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 target price suggests a potential upside of 25.65% from the company’s previous close.

Several other research firms have also weighed in on ICE. Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays dropped their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $0.19 on Friday, reaching $150.42. The stock had a trading volume of 519,232 shares, compared to its average volume of 2,975,690. The company has a market capitalization of $86.37 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The stock has a fifty day moving average price of $153.47 and a 200-day moving average price of $155.48. 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 1-year low of $124.34 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. Research analysts forecast that Intercontinental Exchange will post 6.06 EPS for the current year.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock worth $1,196,279 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently made changes to their positions in the company. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. Wolff Wiese Magana LLC raised its stake in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange during the third quarter worth about $26,000. Financial Management Professionals Inc. boosted its holdings in Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange during the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.