Brokerages Set Intercontinental Exchange Inc. (NYSE:ICE) Target Price at $198.20

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $197.10.

Several analysts have issued reports on ICE shares. Barclays reissued an “overweight” rating and set a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after acquiring an additional 745,135 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Intercontinental Exchange by 1.2% in the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after acquiring an additional 145,961 shares during the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $1,542,780,000. Price T Rowe Associates Inc. MD raised its stake in shares of Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the last quarter. Finally, Amundi raised its stake in shares of Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after acquiring an additional 810,938 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $157.51 on Wednesday. The company has a market capitalization of $90.16 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange has a 1-year low of $142.29 and a 1-year high of $189.35. The business has a 50 day moving average price of $174.01 and a two-hundred day moving average price of $174.13.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. Research analysts predict that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

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.