IntercontinentalExchange Stock Rating Reaffirmed by JPMorgan Chase & Co. (ICE)
IntercontinentalExchange (NYSE:ICE)‘s stock had its “overweight” rating reiterated by research analysts at JPMorgan Chase & Co. in a report released on Tuesday. They currently have a $230.00 price objective on the stock, up from their previous price objective of $228.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 21.43% from the stock’s previous close.
Shares of IntercontinentalExchange (NYSE:ICE) traded down 1.81% on Tuesday, hitting $185.99. 317,978 shares of the company’s stock traded hands. IntercontinentalExchange has a 1-year low of $173.54 and a 1-year high of $229.50. The stock has a 50-day moving average of $192.0 and a 200-day moving average of $203.5. The company has a market cap of $21.398 billion and a price-to-earnings ratio of 44.42.
IntercontinentalExchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 8th. The company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.02. The company had revenue of $932.00 million for the quarter, compared to the consensus estimate of $922.92 million. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 164.8% on a year-over-year basis. On average, analysts predict that IntercontinentalExchange will post $9.45 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “overweight” rating on shares of IntercontinentalExchange in a research note on Monday, June 30th. They now have a $212.00 price target on the stock, down previously from $225.00. Separately, analysts at Wells Fargo & Co. downgraded shares of IntercontinentalExchange from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. IntercontinentalExchange presently has an average rating of “Buy” and a consensus price target of $218.77.
In other IntercontinentalExchange news, COO Thomas W. Farley sold 3,250 shares of the stock on the open market in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $190.87, for a total transaction of $620,327.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets.
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