Intercontinental Exchange Inc. (NYSE:ICE) Given Average Recommendation of “Buy” by Analysts

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have received an average rating of “Buy” from the twelve research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $193.50.

Several research analysts recently commented on ICE shares. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday. Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, TD Cowen increased their price target on Intercontinental Exchange from $175.00 to $193.00 and gave the company a “buy” rating in a report on Wednesday.

Intercontinental Exchange Price Performance

ICE stock opened at $173.26 on Friday. The stock has a 50-day moving average price of $159.31 and a two-hundred day moving average price of $167.63. Intercontinental Exchange has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $98.79 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 2.24 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. As a group, research analysts predict that Intercontinental Exchange will post 6.73 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 1,572 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $153.65, for a total transaction of $241,537.80. Following the sale, the chief financial officer owned 20,534 shares in the company, valued at $3,155,049.10. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the transaction, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 166,068 shares of company stock worth $25,470,702. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ICE. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $28,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $29,000. Private Wealth Management Group LLC grew its stake in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

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.