TD Cowen Lowers Intercontinental Exchange (NYSE:ICE) Price Target to $153.00

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by stock analysts at TD Cowen from $193.00 to $153.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target would suggest a potential upside of 17.26% from the company’s previous close.

Several other equities analysts have also weighed in on ICE. Piper Sandler restated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. UBS Group reiterated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $189.36.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $3.40 on Monday, reaching $130.48. The company’s stock had a trading volume of 1,713,322 shares, compared to its average volume of 3,835,292. The business’s fifty day moving average price is $151.34 and its 200 day moving average price is $158.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $73.79 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.28 and a beta of 0.92. Intercontinental Exchange has a twelve month low of $131.01 and a twelve month high of $189.35.

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

Insider Activity at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the firm’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 sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares in the last quarter. Vanguard Group Inc. increased its position in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in Intercontinental Exchange by 857.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 11,655 shares of the financial services provider’s stock worth $1,888,000 after purchasing an additional 10,438 shares in the last quarter. London & Capital Asset Management Ltd bought a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $31,392,000. Finally, Natixis Advisors LLC lifted its stake in Intercontinental Exchange by 3.3% in the 3rd quarter. Natixis Advisors LLC now owns 1,855,344 shares of the financial services provider’s stock valued at $312,588,000 after purchasing an additional 60,127 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Trending Headlines about Intercontinental Exchange

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

• Positive Sentiment: ICE and OKX announced a new joint venture to build infrastructure for tokenized and digitally native financial products, which could expand ICE’s reach into crypto and digital asset markets. The plan includes potential access to ICE futures and NYSE tokenized equities, but it still needs regulatory approval. Article Title
• Positive Sentiment: ICE also launched ICE GreenTrace, a new environmental registry technology service that extends its market infrastructure into carbon credit registries, potentially creating a new data and technology revenue stream. Article Title
• Neutral Sentiment: The OKX venture is subject to regulatory approvals, and the details are still early, so the near-term financial impact is uncertain. Article Title

About Intercontinental Exchange

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.