Intercontinental Exchange (NYSE:ICE) Given New $178.00 Price Target at Keefe, Bruyette & Woods

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by investment analysts at Keefe, Bruyette & Woods from $183.00 to $178.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 22.65% from the stock’s previous close.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Stock Up 0.9 %

Shares of NYSE:ICE opened at $145.13 on Monday. Intercontinental Exchange has a 52-week low of $124.34 and a 52-week high of $167.99. The stock has a market cap of $83.33 billion, a P/E ratio of 34.39, a PEG ratio of 2.57 and a beta of 1.10. The business has a fifty day moving average of $153.62 and a two-hundred day moving average of $155.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly 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 business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business posted $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. On average, research analysts expect that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Hedge funds and other institutional investors have recently modified their holdings of the business. Wolff Wiese Magana LLC boosted its holdings 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 acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. boosted its stake in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after buying an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange in the third quarter worth $29,000. 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.