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JPMorgan Chase & Co. has set a price target of $ 92.00 on Intercontinental Exchange (NYSE: ICE) in a report released Friday morning. The company currently has a purchase quote on the stock of the financial service provider.
ICE has been the subject of several other research reports. Wells Fargo & Co reiterated a market rating and issued a target price of $ 80.00 (previously $ 74.00) on Intercontinental Exchange shares in a report released on Monday, July 9th. Zacks Investment Research downgraded Intercontinental Exchange from a purchase note to a conservation note in a report released Wednesday, July 11. Barclays raised its target price on the Intercontinental Exchange from $ 80.00 to $ 82.00 and attributed an overweight position in a report released on Thursday, July 12th. Citigroup raised its target price on the Intercontinental Exchange from $ 76.00 to $ 80.00 and awarded the title a neutral rating in a report released Wednesday, July 18th. Finally, FIX initiated a hedge on Intercontinental Exchange in a report published on Wednesday, September 5th. They issued a purchase note and a price target of $ 88.00 on the security. Three investment badysts badigned a security rating and twelve awarded a purchase note for the company. Intercontinental Exchange currently has a consensual rating of the purchase and a consensus price target of $ 84.07.
NYSE ICE increased US $ 1.47 during trading hours on Friday to US $ 78.38. 46,347 shares of the stock were exchanged, compared to its average volume of 3,552,235. Intercontinental Exchange has a minimum of $ 65.28 in one year and $ 78.48 in one year. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $ 43.81 billion, a price / earnings ratio of 26.61, a PEG ratio of 2.23 and a beta of 0.53.
Intercontinental Exchange (NYSE: ICE) released its quarterly results on Wednesday, October 31. The financial services provider reported earnings per share of $ 0.85 for the quarter, exceeding Zacks' consensus estimate of $ 0.80 to $ 0.80. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The company generated $ 1.20 billion in sales for the quarter, compared to a consensus estimate of $ 1.19 billion. In the same quarter last year, the company posted earnings per share of $ 0.73. The company's revenue for the quarter increased 4.7% year-on-year. On average, stock market badysts expect the Intercontinental Exchange to post earnings per share of 3.5 for the current fiscal year.
Intercontinental Exchange said its board of directors had put in place a stock repurchase plan on Wednesday, October 31, allowing the company to buy back $ 2.00 billion in outstanding shares. This redemption authorization allows the financial services provider to reacquire up to 4.8% of its stock through purchases on the open market. Share repurchase programs often indicate that the board of directors of the company believes that its shares are undervalued.
In other news of the Intercontinental Exchange, Attorney General Johnathan H. Short sold 6,000 shares of Intercontinental Exchange during a transaction that took place on Wednesday, October 10 . The stock was sold at an average price of $ 75.73, for a total transaction of $ 454,380.00. The transaction was disclosed in a legal deposit with the SEC, available via this hyperlink. In addition, CEO Jeffrey C. Sprecher sold 80,000 shares of Intercontinental Exchange in a transaction on Wednesday, August 22. The shares were sold at an average price of $ 73.28, for a total value of $ 5,862,400.00. The disclosure of this sale can be found here. Over the past 90 days, insiders sold 253,819 shares valued at $ 19,162,565. 1.50% of the stock belongs to insiders of the company.
A number of institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC strengthened its position in Intercontinental Exchange by 5.7% in the second quarter. Janus Henderson Group PLC now holds 11,536,121 shares of the financial services provider worth $ 848,486,000 after acquiring an additional 619,979 shares in the last quarter. OppenheimerFunds Inc. strengthened its position in Intercontinental Exchange by 17.1% in the second quarter. OppenheimerFunds Inc. now holds 6,938,214 shares in the financial services provider valued at $ 510,306,000 after acquiring 1,011,626 additional shares in the last quarter. Standard Life Aberdeen plc strengthened its position in Intercontinental Exchange by 3.5% in the second quarter. Standard Life Aberdeen plc now holds 5,475,090 shares in the financial services provider valued at USD 402,774,000 after acquiring 183,310 additional shares in the last quarter. Fred Alger Management Inc. strengthened its position in Intercontinental Exchange by 10.5% in the second quarter. Fred Alger Management Inc. now holds 4,667,461 shares in the financial services provider worth $ 343,292,000 after acquiring an additional 442,680 shares in the last quarter. Finally, Winslow Capital Management LLC strengthened its position in Intercontinental Exchange by 13.5% in the second quarter. Winslow Capital Management LLC now holds 4,387,413 shares of the financial services provider valued at $ 322,695,000 after acquiring an additional 523,313 shares in the last quarter. 88.99% of the shares are currently held by institutional investors and hedge funds.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc. operates regulated exchanges, clearing houses and exchanges for the financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel and the United States. Canada. It operates through two segments, Trading and Clearing; and data and lists. The company operates marketplaces for the listing, trading and clearing of a variety of derivatives and securities contracts covering various badet clbades, including energy and agricultural commodities, foreign exchange rates and market prices. Interest, stocks, equity and credit derivatives, exchange traded funds, bonds and currencies.
Recommended history: risk tolerance
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