Intercontinental Exchange (NYSE:ICE) Stock Price Expected to Rise, TD Cowen Analyst Says

Intercontinental Exchange (NYSE:ICE) had its target price lifted by investment analysts at TD Cowen from $175.00 to $193.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price points to a potential upside of 11.39% from the company’s previous close.

A number of other analysts also recently commented on ICE. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday. Barclays set a $182.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, Morgan Stanley restated a “positive” rating and issued a $174.00 target price (up from $169.00) on shares of Intercontinental Exchange in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Trading Up 0.2%

Shares of ICE stock opened at $173.26 on Wednesday. Intercontinental Exchange has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average is $159.31 and its two-hundred day moving average is $167.63. The firm has a market capitalization of $98.79 billion, a P/E ratio of 31.56, a PEG ratio of 2.24 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Research analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares of the company’s stock, valued at $3,948,787.20. This represents a 6.20% decrease in their position. The sale 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 firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 166,068 shares of company stock valued at $25,470,702. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares during the period. State Street Corp grew its stake in shares of Intercontinental Exchange by 0.8% in the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after buying an additional 194,325 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after buying an additional 145,961 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares during the period. Finally, Norges Bank purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $1,542,780,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.