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

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $175.27.

Several equities analysts have issued reports on ICE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Bank of America boosted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler boosted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,795 shares of company stock worth $2,120,572. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently bought and sold shares of ICE. State Street Corp increased its position in shares of Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the last quarter. FMR LLC raised its stake in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC lifted its holdings in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after acquiring an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE stock opened at $159.45 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a 1-year low of $124.34 and a 1-year high of $167.99. The business has a 50-day moving average price of $153.10 and a 200 day moving average price of $156.33. The company has a market capitalization of $91.55 billion, a P/E ratio of 37.78, a PEG ratio of 2.95 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted 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 return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange will post 6.05 EPS for the current fiscal year.

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.