The stock of Intercontinental Exchange Inc (NYSE:ICE) gapped up by $0.91 today and has $432.64 target or 59.00% above today’s $272.10 share price. The 9 months technical chart setup indicates low risk for the $32.33 billion company. The gap was reported on Oct, 14 by Barchart.com. If the $432.64 price target is reached, the company will be worth $19.07B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 419,960 shares traded hands. Intercontinental Exchange Inc (NYSE:ICE) has risen 12.95% since March 11, 2016 and is uptrending. It has outperformed by 7.50% the S&P500.
Analysts await Intercontinental Exchange Inc (NYSE:ICE) to report earnings on October, 26. They expect $3.38 earnings per share, up 16.15% or $0.47 from last year’s $2.91 per share. ICE’s profit will be $401.60 million for 20.13 P/E if the $3.38 EPS becomes a reality. After $3.43 actual earnings per share reported by Intercontinental Exchange Inc for the previous quarter, Wall Street now forecasts -1.46% negative EPS growth.
Intercontinental Exchange Inc (NYSE:ICE) Ratings Coverage
Out of 12 analysts covering Intercontinental Exchange (NYSE:ICE), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Intercontinental Exchange has been the topic of 33 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Thursday, August 6, the company rating was maintained by Deutsche Bank. The firm has “Overweight” rating given on Friday, September 4 by Barclays Capital. RBC Capital Markets maintained Intercontinental Exchange Inc (NYSE:ICE) on Tuesday, May 10 with “Sector Perform” rating. The firm has “Buy” rating given on Friday, May 20 by Sterne Agee CRT. The firm has “Buy” rating given on Thursday, August 4 by Deutsche Bank. JP Morgan upgraded the shares of ICE in a report on Wednesday, June 1 to “Neutral” rating. The firm has “Sector Perform” rating given on Wednesday, December 9 by RBC Capital Markets. On Tuesday, January 5 the stock rating was reinitiated by Goldman Sachs with “Buy”. Barclays Capital maintained the shares of ICE in a report on Tuesday, August 11 with “Overweight” rating. The stock has “Hold” rating given by Argus Research on Monday, November 2.
According to Zacks Investment Research, “IntercontinentalExchange Group, Inc. is the leading network of regulated exchanges and clearing houses for financial and commodity markets. It delivers data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext. The Company offers access to contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including cocoa, coffee, cotton, orange juice, and sugar. IntercontinentalExchange Group, Inc., formerly known as IntercontinentalExchange, Inc., is based in Atlanta, Georgia.”
Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.38, from 1.3 in 2016Q1. The ratio worsened, as 56 funds sold all Intercontinental Exchange Inc shares owned while 214 reduced positions. 55 funds bought stakes while 194 increased positions. They now own 103.79 million shares or 1.19% more from 102.57 million shares in 2016Q1.
Alphamark Advsrs Ltd Liability has 2.28% invested in the company for 15,106 shares. Moreover, Bokf Na has 0.04% invested in Intercontinental Exchange Inc (NYSE:ICE) for 4,178 shares. First Tru Limited Partnership holds 0.01% of its portfolio in Intercontinental Exchange Inc (NYSE:ICE) for 11,840 shares. Thomas White Intll owns 3,084 shares or 0.12% of their US portfolio. Artisan Partnership, a Wisconsin-based fund reported 943,136 shares. Suntrust Banks has 0.02% invested in the company for 13,980 shares. Kanaly, a Texas-based fund reported 7 shares. Bartlett And Company Limited Company last reported 0% of its portfolio in the stock. Voloridge Inv Mngmt Ltd, a Florida-based fund reported 72,045 shares. Columbus Circle has invested 0.16% of its portfolio in Intercontinental Exchange Inc (NYSE:ICE). Fcg Advsrs Ltd Liability Corp has 1,249 shares for 0.1% of their US portfolio. Honeywell Intll last reported 0.88% of its portfolio in the stock. Rafferty Asset Mngmt Ltd holds 0.22% or 12,711 shares in its portfolio. Moreover, Carmignac Gestion has 5.77% invested in Intercontinental Exchange Inc (NYSE:ICE) for 2.63 million shares. M&T National Bank & Trust Corp reported 13,536 shares or 0.02% of all its holdings.
More news for Intercontinental Exchange Inc (NYSE:ICE) were recently published by: Reuters.com, which released: “BRIEF-Intercontinental Exchange Inc announces approval of 5-for-1 stock sp…” on October 05, 2016. Streetinsider.com‘s article titled: “Intercontinental Exchange (ICE) Declares 5-for-1 Stock Split” and published on October 12, 2016 is yet another important article.
ICE Company Profile
Intercontinental Exchange, Inc., formerly IntercontinentalExchange Group, Inc., incorporated on March 6, 2013, is an operator of regulated exchanges, clearing houses and listings venues. The Firm provides data services for commodity and financial markets. The Firm operates in the United States, the United Kingdom, continental Europe, Asia, Israel and Canada. The Firm operates regulated marketplaces for trading and clearing a range of derivatives and securities contracts across asset classes, including energy and agricultural commodities, interest rates, equities, equity derivatives, credit derivatives, bonds and currencies. The Firm provides various services to its customers, such as pre-trade to execution, clearing, data services and technology.
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