Intercontinental Exchange Inc. (NYSE:ICE) Receives $194.60 Average PT from Analysts

Intercontinental Exchange Inc. (NYSE:ICE) has been given a consensus rating of “Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $194.60.

ICE has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. UBS Group reaffirmed a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th.

Intercontinental Exchange Trading Up 1.1%

Intercontinental Exchange stock opened at $153.09 on Thursday. The business has a 50-day simple moving average of $158.33 and a two-hundred day simple moving average of $159.97. The company has a market cap of $86.58 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.41 and a beta of 0.96. Intercontinental Exchange has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. Analysts predict that Intercontinental Exchange will post 8.15 EPS for the current year.

Intercontinental Exchange News Roundup

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,332 shares of company stock valued at $1,794,334. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $25,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Dorato Capital Management bought a new position in Intercontinental Exchange in the 4th quarter valued at $29,000. Swiss RE Ltd. bought a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Steph & Co. grew its position in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.