Analysts Set Intercontinental Exchange Inc. (NYSE:ICE) PT at $193.00

Intercontinental Exchange Inc. (NYSE:ICE) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $193.00.

A number of research firms have recently commented on ICE. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. UBS Group restated a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th.

Insider Activity

In related news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,425 shares of company stock worth $2,046,324. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares in the last quarter. J. Stern & Co. LLP grew its position in Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares in the last quarter. State Street Corp grew its position in Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares in the last quarter. Morgan Stanley grew its position in Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after acquiring an additional 158,450 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.1%

ICE opened at $133.76 on Monday. The company has a fifty day moving average price of $151.34 and a 200-day moving average price of $158.61. The firm has a market capitalization of $75.64 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange has a one year low of $132.84 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 EPS. Equities research analysts expect that Intercontinental Exchange will post 8.16 earnings per share for the current fiscal year.

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.