Brokerages Set Intercontinental Exchange, Inc. (NYSE:ICE) Target Price at $175.07

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been given an average rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $175.07.

Several brokerages have recently weighed in on ICE. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock valued at $1,196,279 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently modified their holdings of the business. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter valued at $26,000. Financial Management Professionals Inc. boosted its stake in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at about $25,000. Finally, Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange in the 3rd quarter valued at about $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $142.73 on Monday. The stock has a market cap of $81.95 billion, a P/E ratio of 33.82, a P/E/G ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The stock has a 50 day moving average of $154.09 and a two-hundred day moving average of $155.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange will post 6.07 earnings per share for the current year.

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.