Intercontinental Exchange (NYSE:ICE) Given New $167.00 Price Target at TD Cowen

Intercontinental Exchange (NYSE:ICE) had its price objective lifted by investment analysts at TD Cowen from $166.00 to $167.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 6.43% from the stock’s current price.

ICE has been the topic of a number of other research reports. UBS Group reissued a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wells Fargo & Company started coverage on Intercontinental Exchange in a research report on Friday, October 2nd. They issued an “underweight” rating and a $159.00 price objective for the company. Rothschild & Co Redburn raised their price objective on Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. The Goldman Sachs Group lifted their target price on Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.25.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $0.73 during trading on Monday, hitting $156.92. 449,374 shares of the stock were exchanged, compared to its average volume of 3,781,854. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $155.74 and a 200-day moving average price of $150.75. The stock has a market capitalization of $88.09 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.48 and a beta of 0.94. Intercontinental Exchange has a 1-year low of $121.79 and a 1-year high of $176.05.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the business posted $1.81 EPS. Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange will post 8.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the transaction, the president directly owned 164,264 shares of the company’s stock, valued at $26,297,023.76. This represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,179 shares of company stock worth $6,473,715 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of large investors have recently made changes to their positions in the company. HF Advisory Group LLC boosted its position in shares of Intercontinental Exchange by 147.5% in the third quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider’s stock valued at $2,339,000 after acquiring an additional 9,169 shares during the period. Gilpin Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 6.3% in the third quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 66 shares in the last quarter. Mirador Capital Partners LP grew its stake in shares of Intercontinental Exchange by 3.2% in the third quarter. Mirador Capital Partners LP now owns 36,449 shares of the financial services provider’s stock valued at $5,541,000 after acquiring an additional 1,119 shares in the last quarter. Wedmont Private Capital grew its position in shares of Intercontinental Exchange by 12.9% during the 3rd quarter. Wedmont Private Capital now owns 7,524 shares of the financial services provider’s stock worth $1,169,000 after purchasing an additional 861 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Intercontinental Exchange by 15.3% during the 3rd quarter. GAMMA Investing LLC now owns 17,187 shares of the financial services provider’s stock worth $2,613,000 after purchasing an additional 2,275 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.