Intercontinental Exchange, Inc. (NYSE:ICE) Receives $172.80 Consensus Target Price from Brokerages

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $173.93.

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Finally, Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently bought and sold shares of ICE. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Intercontinental Exchange by 4.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after acquiring an additional 218,516 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in Intercontinental Exchange by 0.6% in the 1st quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after acquiring an additional 28,771 shares during the last quarter. Legal & General Group Plc lifted its stake in Intercontinental Exchange by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after purchasing an additional 191,763 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after purchasing an additional 284,664 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $165.31 on Wednesday. The firm’s 50-day simple moving average is $161.43 and its two-hundred day simple moving average is $147.00. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $167.64. The stock has a market cap of $94.82 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange will post 6.08 earnings per share for the current fiscal year.

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.