Intercontinental Exchange (NYSE:ICE) Price Target Raised to $189.00

Intercontinental Exchange (NYSE:ICE) had its price objective hoisted by equities researchers at Barclays from $179.00 to $189.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 13.21% from the stock’s previous close.

A number of other analysts also recently issued reports on ICE. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Performance

ICE traded down $0.73 on Friday, reaching $166.95. The company had a trading volume of 3,072,865 shares, compared to its average volume of 3,147,875. Intercontinental Exchange has a fifty-two week low of $124.34 and a fifty-two week high of $169.75. The stock has a market cap of $95.86 billion, a P/E ratio of 39.56, a P/E/G ratio of 3.06 and a beta of 1.11. The company’s fifty day moving average is $153.23 and its 200 day moving average is $156.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. As a group, analysts predict that Intercontinental Exchange will post 6.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,795 shares of company stock worth $2,120,572. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of large investors have recently added to or reduced their stakes in ICE. AMF Tjanstepension AB increased its holdings in Intercontinental Exchange by 14.5% during the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock worth $20,441,000 after buying an additional 16,130 shares during the last quarter. Mather Group LLC. increased its holdings in Intercontinental Exchange by 6.6% during the third quarter. Mather Group LLC. now owns 2,352 shares of the financial services provider’s stock worth $378,000 after buying an additional 146 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Intercontinental Exchange by 4.0% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,704 shares of the financial services provider’s stock worth $756,000 after buying an additional 179 shares during the last quarter. Brookstone Capital Management purchased a new stake in Intercontinental Exchange during the third quarter worth about $212,000. Finally, Marcum Wealth LLC increased its stake in shares of Intercontinental Exchange by 6.9% in the third quarter. Marcum Wealth LLC now owns 3,046 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.