Intercontinental Exchange Inc. (NYSE:ICE) Receives $183.33 Average Price Target from Analysts

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Two research 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 1 year target price among brokers that have issued ratings on the stock in the last year is $184.1667.

Several equities analysts have issued reports on ICE shares. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Piper Sandler dropped their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. TD Cowen restated a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial restated a “strong-buy” rating and issued a $218.00 target price on shares of Intercontinental Exchange in a research note on Tuesday. Finally, Barclays reiterated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st.

Intercontinental Exchange Price Performance

NYSE ICE opened at $157.87 on Friday. The company has a market cap of $88.63 billion, a PE ratio of 22.30, a P/E/G ratio of 1.55 and a beta of 0.93. The firm’s 50 day moving average price is $146.56 and its 200-day moving average price is $151.46. 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 52-week low of $121.79 and a 52-week high of $176.59.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange will post 8.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president owned 17,463 shares in the company, valued at $2,794,080. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. The trade was a 9.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 23,141 shares of company stock worth $3,554,192. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors have recently bought and sold shares of ICE. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its position in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

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.