Intercontinental Exchange Inc. (NYSE:ICE) Given Consensus Rating of “Buy” by Brokerages

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $194.60.

ICE has been the subject of a number of research reports. UBS Group reiterated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. Finally, Barclays restated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,332 shares of company stock worth $1,794,334 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares during the period. J. Stern & Co. LLP grew its holdings in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. State Street Corp grew its holdings in Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares during the period. Morgan Stanley grew its holdings in Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after acquiring an additional 158,450 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $153.09 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange has a twelve month low of $143.17 and a twelve month high of $189.35. The stock has a 50 day moving average of $158.22 and a two-hundred day moving average of $160.12. The stock has a market cap of $86.58 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.41 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange will post 8.15 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.