Keefe, Bruyette & Woods Lowers Intercontinental Exchange (NYSE:ICE) Price Target to $178.00

Intercontinental Exchange (NYSE:ICE) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $183.00 to $178.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 22.65% from the stock’s previous close.

ICE has been the topic of a number of other reports. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. 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 report on Tuesday, October 8th. Barclays decreased their target price on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $145.13 on Monday. The company has a market cap of $83.33 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a 52-week low of $124.34 and a 52-week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day moving average is $153.62 and its two-hundred day moving average is $155.53.

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

Insider Transactions at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction dated 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 transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares in the company, valued at $6,977,088.16. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock valued at $1,196,279 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 1.5% in the 3rd 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 buying an additional 169,922 shares in the last quarter. FMR LLC boosted its holdings in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC increased its stake in Intercontinental Exchange by 4.0% during 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 buying an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after acquiring an additional 390,332 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.