Intercontinental Exchange (NYSE:ICE) PT Raised to $174.00 at Morgan Stanley

Intercontinental Exchange (NYSE:ICE) had its target price increased by Morgan Stanley from $160.00 to $174.00 in a report released on Thursday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Citigroup upped their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Bank of America raised their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.80.

Intercontinental Exchange Price Performance

Shares of ICE opened at $166.83 on Thursday. The business’s fifty day moving average is $160.55 and its 200 day moving average is $146.32. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $167.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $95.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange will post 6.08 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the 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 sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,532 shares of company stock valued at $1,358,709 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently modified their holdings of the business. American National Bank increased its position in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 69 shares during the last quarter. Veracity Capital LLC raised its position in shares of Intercontinental Exchange by 3.4% during the 3rd quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider’s stock valued at $354,000 after buying an additional 72 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of Intercontinental Exchange by 3.4% during the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 73 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Intercontinental Exchange by 1.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 74 shares in the last quarter. Finally, Founders Financial Securities LLC increased its stake in Intercontinental Exchange by 4.8% in the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 74 shares during the last quarter. 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.