Intercontinental Exchange, Inc. (NYSE:ICE) Receives Average Recommendation of “Moderate Buy” from Analysts

Intercontinental Exchange, Inc. (NYSE:ICE) has been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $175.07.

Several equities analysts have weighed in on the company. TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $149.84 on Monday. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $167.99. The firm has a market capitalization of $86.03 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The firm has a fifty day simple moving average of $155.74 and a two-hundred day simple moving average of $155.15. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Victory Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 17.0% during the 2nd quarter. Victory Capital Management Inc. now owns 251,633 shares of the financial services provider’s stock valued at $34,446,000 after buying an additional 36,616 shares in the last quarter. New York Life Investment Management LLC raised its stake in shares of Intercontinental Exchange by 1.1% during the second quarter. New York Life Investment Management LLC now owns 87,348 shares of the financial services provider’s stock worth $11,957,000 after acquiring an additional 980 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Intercontinental Exchange by 11.4% in the 2nd quarter. Private Advisor Group LLC now owns 29,381 shares of the financial services provider’s stock worth $4,022,000 after acquiring an additional 2,998 shares during the last quarter. Candriam S.C.A. boosted its stake in shares of Intercontinental Exchange by 20.6% in the 2nd quarter. Candriam S.C.A. now owns 179,127 shares of the financial services provider’s stock valued at $24,520,000 after purchasing an additional 30,572 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Intercontinental Exchange by 3.9% during the 2nd quarter. Savant Capital LLC now owns 8,005 shares of the financial services provider’s stock valued at $1,096,000 after purchasing an additional 302 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

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.