Morgan Stanley Has Lowered Expectations for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its target price dropped by stock analysts at Morgan Stanley from $188.00 to $178.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 13.46% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays reiterated an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $156.88 on Tuesday. The business has a 50-day simple moving average of $169.23 and a 200 day simple moving average of $173.34. Intercontinental Exchange has a one year low of $142.29 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $89.80 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.19 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. On average, research analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the transaction, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,956 shares of company stock worth $43,789,542. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Intercontinental Exchange by 42.0% during the 1st quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 3,883 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intercontinental Exchange by 12.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock worth $6,067,000 after purchasing an additional 3,760 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Intercontinental Exchange by 66.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 584 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 234 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Intercontinental Exchange by 32.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,751 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 8,077 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

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.