Intercontinental Exchange Inc. [ICE] Revenue clocked in at $5.66 billion, up 9.02% YTD: What’s Next?

Intercontinental Exchange Inc. [NYSE: ICE] price surged by 1.45 percent to reach at $1.44. The company report on November 18, 2020 that October Ellie Mae Origination Insight Report Data Shows Interest Rates Dip Below Three Percent; Refinances Reach 60 Percent Of Total Closed Loans.

Interest rates dropped below three percent for the first time since Ellie Mae began tracking this data in 2011, hitting 2.99 percent in October, down from 3 percent on all loans the month prior. This is according to the latest Origination Insight Report from Ellie Mae®, the leading cloud-based loan origination platform provider for the mortgage industry and now ICE Mortgage Technology, a division of Intercontinental Exchange, Inc. (NYSE: ICE). The 30-year note rate for VA loans dropped to 2.75 percent, down from 2.78 in September, putting it well below the 3.00 percent mark. The 30-year rate on FHA loans held steady at 3.01 percent for the second month while Conventional rates dropped to 3.01 percent, down from 3.02 percent the month prior.

Refinances continued to rise, reaching 60 percent of total closed loans in the month, well above the 2019 high of 51 percent that also occurred in October. Purchase loans dropped to 40 percent of all closed loans in the month down two percentage points from the month prior. Conventional loans ticked back up in October, representing 82 percent of all closed loans in the month, up from 80 percent in September.

A sum of 2274589 shares traded at recent session while its average daily volume was at 2.83M shares. Intercontinental Exchange Inc. shares reached a high of $101.76 and dropped to a low of $99.52 until finishing in the latest session at $100.90.

The one-year ICE stock forecast points to a potential upside of 14.47. The average equity rating for ICE stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Intercontinental Exchange Inc. [ICE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ICE shares is $117.97 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ICE stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Intercontinental Exchange Inc. shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on November 19, 2020. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on October 20, 2020, representing the official price target for Intercontinental Exchange Inc. stock.

The Average True Range (ATR) for Intercontinental Exchange Inc. is set at 2.48, with the Price to Sales ratio for ICE stock in the period of the last 12 months amounting to 9.90. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 1.10. Price to Free Cash Flow for ICE in the course of the last twelve months was 31.88 with Quick ratio for the last quarter at 1.00.

ICE Stock Performance Analysis:

Intercontinental Exchange Inc. [ICE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.63. With this latest performance, ICE shares gained by 1.44% in over the last four-week period, additionally plugging by 7.60% over the last 6 months – not to mention a rise of 6.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ICE stock in for the last two-week period is set at 57.57, with the RSI for the last a single of trading hit 59.77, and the three-weeks RSI is set at 53.88 for Intercontinental Exchange Inc. [ICE]. The present Moving Average for the last 50 days of trading for this stock 99.49, while it was recorded at 99.89 for the last single week of trading, and 94.40 for the last 200 days.

Insight into Intercontinental Exchange Inc. Fundamentals:

Intercontinental Exchange Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

ICE Stock EPS

With the latest financial reports released by the company, Intercontinental Exchange Inc. posted 0.95/share EPS, while the average EPS was predicted by analysts to be reported at 0.95/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ICE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Intercontinental Exchange Inc. go to 10.83%.

Intercontinental Exchange Inc. [ICE] Insider Position Details

There are presently around $50,090 million, or 91.50% of ICE stock, in the hands of institutional investors. The top three institutional holders of ICE stocks are: VANGUARD GROUP INC with ownership of 42,968,654, which is approximately -1.001% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 37,734,978 shares of the stock with an approximate value of $3.81 billion in ICE stocks shares; and STATE STREET CORP, currently with $2.37 billion in ICE stock with ownership of nearly -1.004% of the company’s market capitalization.

516 institutional holders increased their position in Intercontinental Exchange Inc. [NYSE:ICE] by around 56,410,129 shares. Additionally, 492 investors decreased positions by around 38,823,307 shares, while 145 investors held positions by with 401,201,334 shares. The mentioned changes placed institutional holdings at 496,434,770 shares, according to the latest SEC report filing. ICE stock had 106 new institutional investments in for a total of 18,489,503 shares, while 88 institutional investors sold positions of 4,400,785 shares during the same period.

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