Intercontinental Exchange, Inc. (NYSE:ICE) Receives $174.13 Average PT from Analysts

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $174.13.

ICE has been the subject of a number of research reports. Bank of America increased their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th.

Intercontinental Exchange Price Performance

NYSE ICE opened at $157.93 on Friday. The stock has a 50-day simple moving average of $160.81 and a 200 day simple moving average of $150.63. Intercontinental Exchange has a twelve month low of $110.64 and a twelve month high of $167.99. The stock has a market capitalization of $90.68 billion, a PE ratio of 37.42, a P/E/G ratio of 2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. Research analysts anticipate that Intercontinental Exchange will post 6.07 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently modified their holdings of ICE. Janus Henderson Group PLC increased its holdings in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares in the last quarter. FMR LLC increased its stake in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares during the period. Two Sigma Advisers LP raised its position in shares of Intercontinental Exchange by 285.9% during the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after acquiring an additional 1,301,200 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Intercontinental Exchange during the second quarter valued at $124,508,000. Finally, James Hambro & Partners acquired a new position in shares of Intercontinental Exchange during the second quarter valued at $93,340,000. 89.30% of the stock is owned by institutional investors.

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.