Intercontinental Exchange, Inc. (NYSE:ICE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have earned an average 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 rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $162.47.

Several equities analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their price objective for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Barclays raised their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday. They set a “buy” rating and a $182.00 price target for the company.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. Insiders sold 66,268 shares of company stock valued at $9,508,809 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. Vanguard Group Inc. boosted its stake in Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares in the last quarter. Capital World Investors grew its holdings in shares of Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after buying an additional 1,790,493 shares in the last quarter. Finally, CCLA Investment Management boosted its stake in Intercontinental Exchange by 91,838.2% in the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after purchasing an additional 1,113,079 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $158.64 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The business has a fifty day moving average of $156.67 and a 200-day moving average of $143.31. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The firm’s revenue was up 22.7% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange will post 6.04 earnings per share for the current fiscal year.

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.