Intercontinental Exchange (NYSE:ICE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Intercontinental Exchange (NYSE:ICEGet Free Report) had its price target hoisted by analysts at Morgan Stanley from $181.00 to $192.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 9.39% from the stock’s previous close.

ICE has been the subject of a number of other research reports. Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Bank of America cut their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.93.

Get Our Latest Research Report on Intercontinental Exchange

Intercontinental Exchange Stock Up 0.9 %

Shares of ICE stock opened at $175.53 on Monday. The business’s fifty day moving average is $166.63 and its 200-day moving average is $160.74. Intercontinental Exchange has a 1 year low of $131.60 and a 1 year high of $177.45. The stock has a market cap of $100.84 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lynn C. Martin sold 4,155 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $165.60, for a total transaction of $688,068.00. Following the completion of the sale, the insider now owns 57,376 shares of the company’s stock, valued at approximately $9,501,465.60. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,931 shares of company stock worth $10,492,868 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after purchasing an additional 4,787 shares in the last quarter. Avantra Family Wealth Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $702,000. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after buying an additional 61,110 shares in the last quarter. Finally, National Pension Service lifted its position in shares of Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock worth $184,644,000 after buying an additional 198,311 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

(Get Free Report)

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.

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