Intercontinental Exchange Inc. (NYSE:ICE) Receives $191.82 Consensus Price Target from Analysts

Intercontinental Exchange Inc. (NYSE:ICE) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $191.8182.

ICE has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday. Finally, Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in the company. Optivise Advisory Services LLC lifted its stake in Intercontinental Exchange by 3.1% during the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares during the last quarter. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Tritonpoint Wealth LLC lifted its stake in shares of Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 58 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 58 shares during the last quarter. Finally, RB Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $147.01 on Friday. The stock has a market cap of $84.15 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Intercontinental Exchange has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $164.24 and a 200-day moving average of $173.44.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. Equities research analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Intercontinental Exchange Company Profile

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.