For Intercontinental Exchange Inc. [ICE], Analyst sees a rise to $164. What next?

Intercontinental Exchange Inc. [NYSE: ICE] gained 0.82% or 0.92 points to close at $112.62 with a heavy trading volume of 2334192 shares. The company report on August 17, 2022 that ICE Launches 10 Carbon Credit Futures Vintages Extending Out to 2030.


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Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, announced that it has launched 10 new Nature-Based Solutions Carbon Credit futures contracts, providing a carbon credit futures contract portfolio which allows market participants to buy, sell and hedge carbon credits from 2016 out to 2030.

“The structure for the new carbon credit vintages was developed through extensive discussions with a wide community covering corporate buyers, developers, trading houses, and financials,” said Gordon Bennett, Managing Director of Utility Markets at ICE. “We believe that the new carbon credit futures satisfy the key demands of the market. They allow single-vintages to be traded with the added liquidity benefits from having each futures contract deliver a fixed five-year vintage bucket, they provide a forward curve out to 2030, and customers can extend carry trades for multiple years while trading vintage spreads without the basis risk from the cost of carry.”.

It opened the trading session at $111.65, the shares rose to $113.07 and dropped to $111.325, the range by which the price of stock traded the whole day. The daily chart for ICE points out that the company has recorded -10.42% loss over the past six months. However, it is still -25.06% lower than its most recent low trading price.

If we look at the average trading volume of 2.82M shares, ICE reached to a volume of 2334192 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 $127.17 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 2.10. 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.

Rosenblatt have made an estimate for Intercontinental Exchange Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on February 15, 2022, representing the official price target for Intercontinental Exchange Inc. stock. Previously, the target price had yet another raise to $158, while BofA Securities analysts kept a Neutral rating on ICE stock.

The Average True Range (ATR) for Intercontinental Exchange Inc. is set at 2.36, with the Price to Sales ratio for ICE stock in the period of the last 12 months amounting to 6.45. The Price to Book ratio for the last quarter was 2.75, with the Price to Cash per share for the same quarter was set at 1.53. Price to Free Cash Flow for ICE in the course of the last twelve months was 26.74 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 5.62. With this latest performance, ICE shares gained by 14.40% in over the last four-week period, additionally sinking by -10.42% over the last 6 months – not to mention a drop of -2.40% 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 73.86, with the RSI for the last a single of trading hit 80.35, and the three-weeks RSI is set at 67.89 for Intercontinental Exchange Inc. [ICE]. The present Moving Average for the last 50 days of trading for this stock 99.40, while it was recorded at 110.93 for the last single week of trading, and 118.59 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 +47.42 and a Gross Margin at +72.57. Intercontinental Exchange Inc.’s Net Margin is presently recorded at +39.99.

Return on Equity for this stock inclined to 19.23, with Return on Assets sitting at 2.54.

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 6.26%.

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

There are presently around $55,282 million, or 91.90% of ICE stock, in the hands of institutional investors. The top three institutional holders of ICE stocks are: VANGUARD GROUP INC with ownership of 44,617,005, which is approximately 0.04% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 41,470,195 shares of the stock with an approximate value of $4.67 billion in ICE stocks shares; and STATE STREET CORP, currently with $2.68 billion in ICE stock with ownership of nearly -7.153% of the company’s market capitalization.

Positions in Intercontinental Exchange Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 615 institutional holders increased their position in Intercontinental Exchange Inc. [NYSE:ICE] by around 39,504,533 shares. Additionally, 626 investors decreased positions by around 37,382,035 shares, while 165 investors held positions by with 413,989,809 shares. The mentioned changes placed institutional holdings at 490,876,377 shares, according to the latest SEC report filing. ICE stock had 84 new institutional investments in for a total of 2,541,139 shares, while 172 institutional investors sold positions of 5,696,988 shares during the same period.

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