Intercontinental Exchange Inc. (NYSE:ICE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $185.3333.

A number of equities research analysts recently commented on ICE shares. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. 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 price objective on the stock. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was 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 directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 over the last quarter. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Intercontinental Exchange Stock Down 1.5%

Shares of ICE stock opened at $135.14 on Friday. The stock 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. Intercontinental Exchange has a 52 week low of $121.79 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $142.91 and its two-hundred day simple moving average is $155.73.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 earnings per share. Analysts predict that Intercontinental Exchange will post 8.35 EPS for the current fiscal year.

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.