Intercontinental Exchange (NYSE:ICE) Given New $180.00 Price Target at Barclays

Intercontinental Exchange (NYSE:ICE) had its price target trimmed by Barclays from $201.00 to $180.00 in a research note published on Thursday morning, MarketBeat reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

ICE has been the topic of a number of other research reports. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Piper Sandler reissued an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. The Goldman Sachs Group decreased their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, TD Cowen cut their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.33.

Intercontinental Exchange Trading Down 1.5%

Shares of ICE stock opened at $135.14 on Thursday. The stock has a 50 day simple moving average of $142.91 and a two-hundred day simple moving average of $155.73. The company has a market cap of $76.42 billion, a P/E ratio of 19.67, a PEG ratio of 1.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange has a fifty-two week low of $121.79 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange will post 8.35 earnings per share for the current year.

Insider Activity

In other news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several large investors have recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Brooklands Fund Management Ltd purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Finally, Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

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.