Intercontinental Exchange (NYSE:ICE) Price Target Cut to $180.00 by Analysts at Barclays

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by analysts at Barclays from $201.00 to $180.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 34.64% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ICE. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Piper Sandler reiterated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.33.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $133.69 on Thursday. 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 stock has a market capitalization of $75.60 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. The stock has a fifty day moving average of $143.33 and a 200-day moving average of $155.91.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange will post 8.35 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were 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 of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Holos Integrated Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Steph & Co. raised its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Finally, Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.