Intercontinental Exchange Inc. (NYSE:ICE) Given Consensus Rating of “Buy” by Brokerages

Intercontinental Exchange Inc. (NYSE:ICE) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $194.70.

Several equities analysts recently weighed in on the company. TD Cowen cut their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Wednesday. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Morgan Stanley cut their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $151.00, for a total transaction of $314,231.00. Following the completion of the transaction, the general counsel owned 44,212 shares in the company, valued at $6,676,012. This represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 176,150 shares of company stock worth $27,072,531. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several large investors have recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth $28,000. Activest Wealth Management boosted its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at about $29,000. Private Wealth Management Group LLC raised its holdings in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Intercontinental Exchange in the 2nd quarter worth approximately $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $160.21 on Monday. The firm has a fifty day moving average price of $155.10 and a 200 day moving average price of $169.44. Intercontinental Exchange has a 1 year low of $142.29 and a 1 year high of $189.35. The stock has a market cap of $91.35 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.48 and a beta of 1.05. 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 (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.55 earnings per share. Equities research analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current year.

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.