UBS Group Has Lowered Expectations for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its target price lowered by analysts at UBS Group from $205.00 to $190.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 40.49% from the stock’s current price.

ICE has been the subject of several other reports. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. TD Cowen decreased their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Barclays reaffirmed an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $187.08.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $135.24 on Tuesday. Intercontinental Exchange has a 12 month low of $121.79 and a 12 month high of $189.35. The firm has a market capitalization of $76.48 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94. The business’s 50 day simple moving average is $144.62 and its 200-day simple moving average is $156.42. The company has a debt-to-equity ratio of 0.63, 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, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. As a group, equities analysts forecast that Intercontinental Exchange will post 8.37 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last ninety days. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently made changes to their positions in the business. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth about $28,000. Steph & Co. raised its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the period. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $28,000. Finally, Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. Institutional investors own 89.30% of the company’s stock.

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.