Intercontinental Exchange (NYSE:ICE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Intercontinental Exchange (NYSE:ICE) had its target price increased by Morgan Stanley from $183.00 to $187.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 15.54% from the company’s previous close.

Several other equities research analysts also recently weighed in on ICE. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. UBS Group reissued a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Barclays raised their target price on Intercontinental Exchange from $193.00 to $198.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and an average target price of $192.20.

Intercontinental Exchange Trading Down 3.5%

Shares of ICE stock opened at $161.85 on Friday. The company has a market cap of $91.68 billion, a P/E ratio of 28.05, a PEG ratio of 1.84 and a beta of 1.03. Intercontinental Exchange has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The stock has a 50 day simple moving average of $160.52 and a two-hundred day simple moving average of $160.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted $1.52 EPS. Intercontinental Exchange’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insider Activity

In other news, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company’s stock, valued at $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the sale, the president owned 165,692 shares in the company, valued at $27,339,180. This represents a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Holos Integrated Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Steph & Co. lifted its position in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Finally, Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.