Intercontinental Exchange Inc. [ICE] Stock trading around $118.69 per share: What’s Next?

Intercontinental Exchange Inc. [NYSE: ICE] loss -0.31% or -0.37 points to close at $118.69 with a heavy trading volume of 1345233 shares. The company report on July 12, 2021 that ICE Mortgage Technology Millennial Tracker Finds Share of Millennials Poised for Homeownership Increases as FICO Requirements Loosen.

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ICE Mortgage Technology™, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, shared that according to the ICE Mortgage Technology™ Millennial Tracker, the percentage of purchase activity to total closed loans among millennials increased for the third consecutive month.

In May, 67% of loans closed by millennials on the Encompass® by ICE Mortgage Technology origination platform were for purchases, up from 61% in April 2021 and 51% in March 2021. Purchases accounted for 82% of loans closed by younger millennials (born between 1991 and 1999), up from 78% in April. For older millennials (millennials born between 1980 and 1990) purchases accounted for 60% of all closed loans, up from 53% in April.

It opened the trading session at $119.04, the shares rose to $119.30 and dropped to $118.42, the range by which the price of stock traded the whole day. The daily chart for ICE points out that the company has recorded 0.88% gains over the past six months. However, it is still -30.66% lower than its most recent low trading price.

If we look at the average trading volume of 2.56M shares, ICE reached to a volume of 1345233 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $133.94 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 1.80. 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.

Credit Suisse have made an estimate for Intercontinental Exchange Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 25, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on June 11, 2021, representing the official price target for Intercontinental Exchange Inc. stock. Previously, the target price had yet another raise from $115 to $125, while Raymond James kept a Strong Buy rating on ICE stock.

The Average True Range (ATR) for Intercontinental Exchange Inc. is set at 1.32, with the Price to Sales ratio for ICE stock in the period of the last 12 months amounting to 7.75. The Price to Book ratio for the last quarter was 3.34, with the Price to Cash per share for the same quarter was set at 1.01. Price to Free Cash Flow for ICE in the course of the last twelve months was 30.50 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for ICE stock

Intercontinental Exchange Inc. [ICE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.60. With this latest performance, ICE shares gained by 5.34% in over the last four-week period, additionally plugging by 0.88% over the last 6 months – not to mention a rise of 29.25% 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 63.37, with the RSI for the last a single of trading hit 64.92, and the three-weeks RSI is set at 60.54 for Intercontinental Exchange Inc. [ICE]. The present Moving Average for the last 50 days of trading for this stock 114.33, while it was recorded at 118.56 for the last single week of trading, and 110.81 for the last 200 days.

Intercontinental Exchange Inc. [ICE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Intercontinental Exchange Inc. [ICE] shares currently have an operating margin of +41.93 and a Gross Margin at +69.56. Intercontinental Exchange Inc.’s Net Margin is presently recorded at +27.34.

Return on Total Capital for ICE is now 10.32, given the latest momentum, and Return on Invested Capital for the company is 7.36. Return on Equity for this stock inclined to 11.37, with Return on Assets sitting at 1.89. When it comes to the capital structure of this company, Intercontinental Exchange Inc. [ICE] has a Total Debt to Total Equity ratio set at 86.81. Additionally, ICE Total Debt to Total Capital is recorded at 46.47, with Total Debt to Total Assets ending up at 13.41. Long-Term Debt to Equity for the company is recorded at 74.09, with the Long-Term Debt to Total Capital now at 39.66.

Reflecting on the efficiency of the workforce at the company, Intercontinental Exchange Inc. [ICE] managed to generate an average of $234,983 per employee. Receivables Turnover for the company is 6.89 with a Total Asset Turnover recorded at a value of 0.07.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.

Intercontinental Exchange Inc. [ICE]: An earnings per share (EPS) analysis

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 8.87%.

An analysis of insider ownership at Intercontinental Exchange Inc. [ICE]

There are presently around $59,263 million, or 90.60% of ICE stock, in the hands of institutional investors. The top three institutional holders of ICE stocks are: VANGUARD GROUP INC with ownership of 43,282,322, which is approximately 0.841% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 39,675,049 shares of the stock with an approximate value of $4.71 billion in ICE stocks shares; and STATE STREET CORP, currently with $2.93 billion in ICE stock with ownership of nearly 5.102% of the company’s market capitalization.

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Positions in Intercontinental Exchange Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 605 institutional holders increased their position in Intercontinental Exchange Inc. [NYSE:ICE] by around 24,988,864 shares. Additionally, 474 investors decreased positions by around 26,313,674 shares, while 157 investors held positions by with 448,010,707 shares. The mentioned changes placed institutional holdings at 499,313,245 shares, according to the latest SEC report filing. ICE stock had 124 new institutional investments in for a total of 4,854,206 shares, while 80 institutional investors sold positions of 5,108,808 shares during the same period.

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