Argus Reiterates Buy Rating for Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange (NYSE:ICE)‘s stock had its “buy” rating reaffirmed by Argus in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $153.00 target price on the financial services provider’s stock. Argus’ price target would indicate a potential upside of 11.87% from the stock’s current price.

A number of other brokerages have also weighed in on ICE. UBS Group boosted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Finally, Piper Sandler boosted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.29.

Intercontinental Exchange Stock Down 0.1 %

Shares of Intercontinental Exchange stock traded down $0.18 on Tuesday, reaching $136.77. The company’s stock had a trading volume of 480,040 shares, compared to its average volume of 2,338,213. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The firm’s fifty day simple moving average is $134.25 and its two-hundred day simple moving average is $128.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $78.45 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 2.58 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. Equities analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 48,166 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $136.35, for a total value of $6,567,434.10. Following the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $160,878,683.25. The disclosure for this sale can be found here. Insiders sold 109,633 shares of company stock worth $15,000,602 in the last three months. 1.10% of the stock is owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of large investors have recently made changes to their positions in ICE. Citizens Financial Group Inc. RI purchased a new stake in Intercontinental Exchange during the 1st quarter valued at $233,000. Plato Investment Management Ltd grew its holdings in Intercontinental Exchange by 2,134.9% during the 1st quarter. Plato Investment Management Ltd now owns 15,175 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 14,496 shares during the last quarter. iA Global Asset Management Inc. raised its position in Intercontinental Exchange by 18.8% in the 1st quarter. iA Global Asset Management Inc. now owns 322,482 shares of the financial services provider’s stock worth $44,319,000 after purchasing an additional 51,035 shares during the period. Tidal Investments LLC lifted its stake in Intercontinental Exchange by 13.5% in the first quarter. Tidal Investments LLC now owns 30,820 shares of the financial services provider’s stock worth $4,235,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its position in shares of Intercontinental Exchange by 8.7% during the first quarter. Motley Fool Asset Management LLC now owns 16,918 shares of the financial services provider’s stock valued at $2,325,000 after buying an additional 1,355 shares during the period. 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.