Brokerages Set Intercontinental Exchange Inc. (NYSE:ICE) Price Target at $194.60

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $194.60.

ICE has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley boosted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Barclays reissued an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Finally, Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th.

Insider Activity at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,428 shares of company stock valued at $1,154,736. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at about $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Dorato Capital Management bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $29,000. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Finally, Steph & Co. lifted its position in shares of Intercontinental Exchange by 104.7% during the fourth 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 last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.7%

ICE opened at $149.52 on Thursday. The business’s 50-day simple moving average is $157.82 and its 200-day simple moving average is $160.16. 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 one year low of $143.17 and a one year high of $189.35. The stock has a market capitalization of $84.55 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange will post 8.15 EPS for the current year.

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.