Intercontinental Exchange (NYSE:ICE) Price Target Lowered to $179.00 at Barclays

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by Barclays from $187.00 to $179.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently commented on ICE. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research note on Monday, October 14th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.20.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $143.84 on Monday. The business has a 50 day moving average of $153.88 and a 200 day moving average of $155.47. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $82.59 billion, a PE ratio of 34.09, a P/E/G ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts forecast that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade 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 valued at $1,196,279. Corporate insiders own 1.10% 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. HBK Sorce Advisory LLC increased its position in Intercontinental Exchange by 3.7% during the 2nd quarter. HBK Sorce Advisory LLC now owns 2,112 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 75 shares during the period. Parallel Advisors LLC increased its holdings in Intercontinental Exchange by 2.8% during the second quarter. Parallel Advisors LLC now owns 6,016 shares of the financial services provider’s stock valued at $824,000 after buying an additional 164 shares during the period. Thoroughbred Financial Services LLC bought a new position in Intercontinental Exchange in the second quarter worth approximately $238,000. Envestnet Asset Management Inc. boosted its position in Intercontinental Exchange by 5.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,062,336 shares of the financial services provider’s stock valued at $145,423,000 after acquiring an additional 53,506 shares in the last quarter. Finally, Rathbones Group PLC increased its holdings in shares of Intercontinental Exchange by 10.5% in the 2nd quarter. Rathbones Group PLC now owns 2,342 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 222 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

About Intercontinental Exchange

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.