Intercontinental Exchange Inc. (NYSE:ICE) Receives $185.33 Average Price Target from Brokerages

Intercontinental Exchange Inc. (NYSE:ICE) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $183.3333.

Several equities research analysts have issued reports on ICE shares. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. UBS Group decreased their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $137.61 on Friday. The company has a market capitalization of $77.82 billion, a PE ratio of 20.03, a PEG ratio of 1.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange has a 52 week low of $121.79 and a 52 week high of $189.35. The company’s 50 day moving average price is $141.72 and its 200 day moving average price is $155.20.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the business earned $1.72 EPS. Intercontinental Exchange’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange will post 8.11 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated 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 directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ICE. ICONIQ Capital LLC boosted its holdings in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares during the last quarter. Mechanics Financial Corp boosted its holdings in Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 60 shares during the last quarter. Mission Wealth Management LP grew its stake in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.