Intercontinental Exchange (NYSE:ICE) Price Target Raised to $175.00

Intercontinental Exchange (NYSE:ICE) had its price target raised by research analysts at Bank of America from $168.00 to $175.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price points to a potential upside of 7.60% from the company’s current price.

ICE has been the subject of several other research reports. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays lifted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, Citigroup lifted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $165.13.

Intercontinental Exchange Price Performance

ICE traded up $1.72 on Thursday, reaching $162.64. The company had a trading volume of 1,270,241 shares, compared to its average volume of 2,489,116. The company has a market capitalization of $93.29 billion, a P/E ratio of 37.28, a PEG ratio of 2.81 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $157.64 and a 200-day moving average of $144.03. Intercontinental Exchange has a one year low of $104.49 and a one year high of $163.71.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm posted $1.43 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. As a group, equities research analysts anticipate that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The disclosure for this sale can be found here. Insiders have sold a total of 68,316 shares of company stock valued at $9,835,609 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. American National Bank increased its holdings in shares of Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 69 shares during the period. Catalyst Financial Partners LLC raised its holdings in Intercontinental Exchange by 3.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 73 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Intercontinental Exchange by 1.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 74 shares in the last quarter. Founders Financial Securities LLC increased its position in shares of Intercontinental Exchange by 4.8% during the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 74 shares during the period. Finally, Pettyjohn Wood & White Inc. raised its stake in shares of Intercontinental Exchange by 0.5% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.