Intercontinental Exchange Inc. [NYSE: ICE] stock went on a downward path that fall over -0.89% on Thursday, amounting to a one-week price decrease of less than -2.72%. The company report on March 22, 2023 that Intercontinental Exchange Sets Date for 2023 Virtual Annual Meeting of Stockholders.
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, will hold its 2023 Annual Meeting of Stockholders virtually on Friday, May 19, 2023 at 8:30 a.m. Eastern Time. Stockholders of record as of the close of business on Tuesday, March 21, 2023 are entitled to participate in, vote and submit questions at the Annual Meeting. Stockholders will also be able to submit questions in advance of the meeting at proxyvote.com beginning on Friday, May 5, 2023. Additional information regarding the Annual Meeting, including how to participate, vote and submit questions, will be provided in the Company’s proxy statement, which will be filed with the Securities and Exchange Commission and will be available on the Company’s website at www.ir.theice.com in late March. A live audio webcast and replay of the Annual Meeting will be available on the Company’s investor relations website at www.ir.theice.com.
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Over the last 12 months, ICE stock dropped by -29.23%. The one-year Intercontinental Exchange Inc. stock forecast points to a potential upside of 24.63. The average equity rating for ICE stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $55.19 billion, with 559.00 million shares outstanding and 550.82 million shares in the current float. Compared to the average trading volume of 2.67M shares, ICE stock reached a trading volume of 3435839 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $128.07 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 2.00. 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.
BofA Securities have made an estimate for Intercontinental Exchange Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on October 12, 2022, representing the official price target for Intercontinental Exchange Inc. stock. Previously, the target price had yet another raise to $164, while Rosenblatt analysts kept a Buy rating on ICE stock.
The Average True Range (ATR) for Intercontinental Exchange Inc. is set at 2.47, with the Price to Sales ratio for ICE stock in the period of the last 12 months amounting to 5.73. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 3.15. Price to Free Cash Flow for ICE in the course of the last twelve months was 22.29 with Quick ratio for the last quarter at 1.10.
ICE Stock Performance Analysis:
Intercontinental Exchange Inc. [ICE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.72. With this latest performance, ICE shares dropped by -7.44% in over the last four-week period, additionally plugging by 3.12% over the last 6 months – not to mention a drop of -29.23% 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 38.09, with the RSI for the last a single of trading hit 37.65, and the three-weeks RSI is set at 39.32 for Intercontinental Exchange Inc. [ICE]. The present Moving Average for the last 50 days of trading for this stock 104.53, while it was recorded at 97.74 for the last single week of trading, and 100.92 for the last 200 days.
Insight into Intercontinental Exchange Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Intercontinental Exchange Inc. [ICE] shares currently have an operating margin of +41.10 and a Gross Margin at +68.66. Intercontinental Exchange Inc.’s Net Margin is presently recorded at +15.76.
Return on Total Capital for ICE is now 9.65, given the latest momentum, and Return on Invested Capital for the company is 3.78. Return on Equity for this stock inclined to 6.37, with Return on Assets sitting at 0.75. When it comes to the capital structure of this company, Intercontinental Exchange Inc. [ICE] has a Total Debt to Total Equity ratio set at 81.22. Additionally, ICE Total Debt to Total Capital is recorded at 44.82, with Total Debt to Total Assets ending up at 9.49. Long-Term Debt to Equity for the company is recorded at 80.91, with the Long-Term Debt to Total Capital now at 44.65.
Reflecting on the efficiency of the workforce at the company, Intercontinental Exchange Inc. [ICE] managed to generate an average of $162,271 per employee. Receivables Turnover for the company is 7.72 with a Total Asset Turnover recorded at a value of 0.05.Intercontinental Exchange Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
ICE Stock EPS
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 5.86%.
Intercontinental Exchange Inc. [ICE] Insider Position Details
There are presently around $48,447 million, or 91.20% of ICE stock, in the hands of institutional investors. The top three institutional holders of ICE stocks are: VANGUARD GROUP INC with ownership of 45,388,511, which is approximately 0.779% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 41,054,957 shares of the stock with an approximate value of $3.96 billion in ICE stocks shares; and MORGAN STANLEY, currently with $2.45 billion in ICE stock with ownership of nearly 18.934% of the company’s market capitalization.
Positions in Intercontinental Exchange Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 628 institutional holders increased their position in Intercontinental Exchange Inc. [NYSE:ICE] by around 32,598,074 shares. Additionally, 577 investors decreased positions by around 28,992,851 shares, while 153 investors held positions by with 440,295,157 shares. The mentioned changes placed institutional holdings at 501,886,082 shares, according to the latest SEC report filing. ICE stock had 150 new institutional investments in for a total of 3,678,559 shares, while 81 institutional investors sold positions of 3,178,964 shares during the same period.