Intercontinental Exchange (NYSE:ICE) PT Lowered to $153.00

Intercontinental Exchange (NYSE:ICE) had its target price decreased by analysts at Bank of America from $156.00 to $153.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 16.61% from the company’s current price.

Several other research analysts also recently commented on ICE. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research note on Thursday, April 4th. UBS Group lifted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Finally, Morgan Stanley lifted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $131.21 on Friday. The stock has a 50 day moving average price of $136.27 and a 200 day moving average price of $124.54. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $75.13 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. Analysts predict that Intercontinental Exchange will post 5.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 48,166 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $136.35, for a total value of $6,567,434.10. Following the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $160,878,683.25. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock valued at $21,454,204 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently modified their holdings of ICE. Nordea Investment Management AB grew its position in Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after acquiring an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Intercontinental Exchange by 7.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after acquiring an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Intercontinental Exchange by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after acquiring an additional 105,042 shares during the last quarter. First County Bank CT grew its position in Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 100 shares during the last quarter. Finally, CIC Wealth LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth $221,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

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.