Barclays Has Lowered Expectations for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its target price decreased by equities researchers at Barclays from $179.00 to $173.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 11.87% from the stock’s current price.

ICE has been the topic of a number of other reports. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Citigroup lifted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $154.64 on Friday. The stock’s 50 day moving average is $161.98 and its 200 day moving average is $148.33. Intercontinental Exchange has a one year low of $104.91 and a one year high of $167.99. The firm has a market cap of $88.79 billion, a P/E ratio of 36.64, a P/E/G ratio of 2.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 EPS. As a group, research analysts expect that Intercontinental Exchange will post 6.13 EPS for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wolff Wiese Magana LLC lifted its position in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $26,000. Financial Management Professionals Inc. lifted its holdings in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Finally, Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $29,000. 89.30% of the stock is currently 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.