Analysts Set Intercontinental Exchange, Inc. (NYSE:ICE) PT at $175.07

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $175.07.

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd.

Intercontinental Exchange Price Performance

ICE stock opened at $155.58 on Thursday. Intercontinental Exchange has a 1 year low of $121.56 and a 1 year high of $167.99. The stock has a market capitalization of $89.33 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. The company’s 50-day moving average is $159.90 and its 200-day moving average is $153.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

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

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,901 shares of company stock worth $1,582,542. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC lifted its position in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $26,000. Financial Management Professionals Inc. grew its holdings in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at about $25,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange during the third quarter worth about $29,000. 89.30% of the stock is currently 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.