Intercontinental Exchange (NYSE:ICE) PT Raised to $185.00

Intercontinental Exchange (NYSE:ICE) had its target price hoisted by investment analysts at The Goldman Sachs Group from $171.00 to $185.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 13.80% from the stock’s previous close.

ICE has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Citigroup upped their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada began coverage on shares of Intercontinental Exchange in a report on Friday, September 27th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.67.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $1.65 during trading hours on Thursday, reaching $162.57. The company’s stock had a trading volume of 957,511 shares, compared to its average volume of 2,487,815. The stock has a market cap of $93.25 billion, a PE ratio of 37.32, a PEG ratio of 2.81 and a beta of 1.08. The business has a 50-day simple moving average of $157.64 and a 200 day simple moving average of $144.03. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $163.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange will post 6.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at approximately $2,174,909.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. Insiders have sold a total of 68,316 shares of company stock valued at $9,835,609 over the last ninety days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Annapolis Financial Services LLC grew its holdings in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC purchased a new position in Intercontinental Exchange in the 2nd quarter worth $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange in the second quarter worth $25,000. Finally, Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at about $25,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.