Intercontinental Exchange (NYSE:ICE) Stock Price Target Cut by Jefferies Financial Group

Intercontinental Exchange (NYSE:ICE) had its target price decreased by analysts at Jefferies Financial Group from $189.00 to $185.00 in a research note issued on Wednesday. Jefferies Financial Group’s target price would suggest a potential upside of 18.57% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Piper Sandler restated an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Intercontinental Exchange in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $182.71.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $0.68 during trading on Wednesday, hitting $156.03. 2,615,690 shares of the company’s stock traded hands, compared to its average volume of 2,576,241. Intercontinental Exchange has a 1 year low of $121.79 and a 1 year high of $176.05. The business has a 50-day simple moving average of $155.74 and a 200-day simple moving average of $150.80. The stock has a market capitalization of $87.59 billion, a P/E ratio of 22.04, a PEG ratio of 1.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 EPS. As a group, analysts forecast that Intercontinental Exchange will post 8.15 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the sale, the president directly owned 164,264 shares in the company, valued at approximately $26,297,023.76. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Edmonds sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 41,179 shares of company stock valued at $6,473,715. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mirador Capital Partners LP boosted its position in Intercontinental Exchange by 3.2% in the 3rd quarter. Mirador Capital Partners LP now owns 36,449 shares of the financial services provider’s stock worth $5,541,000 after purchasing an additional 1,119 shares in the last quarter. Wedmont Private Capital boosted its holdings in Intercontinental Exchange by 12.9% during the third quarter. Wedmont Private Capital now owns 7,524 shares of the financial services provider’s stock worth $1,169,000 after buying an additional 861 shares in the last quarter. GAMMA Investing LLC grew its position in Intercontinental Exchange by 15.3% during the third quarter. GAMMA Investing LLC now owns 17,187 shares of the financial services provider’s stock valued at $2,613,000 after buying an additional 2,275 shares during the period. Grove Bank & Trust grew its position in Intercontinental Exchange by 3.4% during the third quarter. Grove Bank & Trust now owns 8,433 shares of the financial services provider’s stock valued at $1,282,000 after buying an additional 277 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Intercontinental Exchange by 20.0% in the third quarter. Farther Finance Advisors LLC now owns 18,293 shares of the financial services provider’s stock valued at $2,781,000 after buying an additional 3,051 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.