UBS Group Issues Positive Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its price objective boosted by equities researchers at UBS Group from $195.00 to $210.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price suggests a potential upside of 14.97% from the stock’s current price.

ICE has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Barclays upped their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $189.62.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $0.43 during midday trading on Tuesday, reaching $182.66. The stock had a trading volume of 97,094 shares, compared to its average volume of 2,976,683. The stock has a 50-day moving average of $177.54 and a 200-day moving average of $166.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $104.78 billion, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. Intercontinental Exchange has a 12-month low of $140.32 and a 12-month high of $183.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. As a group, research analysts anticipate that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares of the company’s stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,749 shares of company stock worth $40,942,387. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ICE. Norges Bank purchased a new position in Intercontinental Exchange in the 4th quarter worth about $1,196,258,000. Price T Rowe Associates Inc. MD boosted its stake in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Royal Bank of Canada boosted its stake in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Intercontinental Exchange during the 1st quarter valued at approximately $575,383,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.