Intercontinental Exchange Inc. (NYSE:ICE) finished Wednesday with an addition of $1.58 to close at $114.83, an upside of 1.40 percent. An average of 2,476,540 shares of common stock have been traded in the last five days. There was a gain of $0.86 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 2,222,640 shares traded, while the 50-day average volume stands at 2,234,294.
ICE stock has decreased by -1.47% in the last month. The company shares reached their 1-month lowest point of $107.31 on 08/03/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $88.60 and a high of $117.85 in 52 weeks. It has reached a new high 14 times so far this year and achieved 11.93% or $12.24 in price. In spite of this, the price is down -2.56% from the 52-week high.
Insider Transactions
ICE stock investors should be aware that Intercontinental Exchange Inc. (ICE) stock had its last reported insider trading activity 3 days ago on Aug 21. In this transaction, the insider spent $56,326. Director, Tirinnanzi Martha A, disposed of 496 shares at a price of $113.97 on Aug 16. The insider now owns more than $56,529 worth of shares. Prior to that, President Jackson Benjamin went on to Sale 3,000 shares at $115.54 each on Jul 12. An amount of $346,620 was transacted.
Valuation Metrics
Intercontinental Exchange Inc. (ICE) has a trailing price-to-earnings (P/E) ratio of 38.19. The stock’s beta is 0.93. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.71, the price-to-book (PB) ratio at 2.70, and the price-to-cash flow ratio at 20.38.
Financial Health
The quick ratio of Intercontinental Exchange Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.76 and a total debt to equity ratio of 0.76 for the quarter ending June 29. Its gross profit as reported stood at $7.16 billion compared to revenue of $7.29 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Intercontinental Exchange Inc.’s return on assets was 1.00%.
Earnings Surprise
For the three-month period that ended June 29, Intercontinental Exchange Inc. had $18.13 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $799.0 million in the quarter, while revenues were grew 30.54%. The analyst consensus anticipated Intercontinental Exchange Inc.’s latest quarter earnings to come in at $1.37 per share, but it turned out to be $1.43, a 4.40% surprise. For the quarter, EBITDA amounted to $1.22 billion. Shareholders own equity worth $560.3 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Intercontinental Exchange Inc. (ICE) price momentum. RSI 9-day as of the close on 23 August was 54.72%, suggesting the stock is Neutral, with historical volatility in this time frame at 10.60%.
As of today, ICE’s price is $113.86 +0.75% or $0.86 from its 5-day moving average. ICE is currently trading -1.63% lower than its 20-day SMA and +11.78% higher than its 100-day SMA. However, the stock’s current price level is +5.83% above the SMA50 and +20.28% above the SMA200.
The stochastic %K and %D were 63.98% and 67.54%, respectively, and the average true range (ATR) was 1.67. With the 14-day stochastic at 56.02% and the average true range at 1.73, the RSI (14) stands at 53.28%. The stock has reached -0.05 on the 9-day MACD Oscillator while the 14-day reading was at -0.32.
Analyst Ratings
Citigroup upgraded Intercontinental Exchange Inc. (NYSE: ICE) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Intercontinental Exchange Inc. (ICE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ICE, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 12 others rate it as a “buy”.
What is ICE’s price target for the next 12 months?
Analysts predict a range of price targets between $121.70 and $168.00, with a median target of $131.50. Taking a look at these predictions, the average price target given by analysts for Intercontinental Exchange Inc. (ICE) stock is $133.48.
