Intercontinental Exchange (NYSE:ICE) Price Target Raised to $167.00

Intercontinental Exchange (NYSE:ICE) had its price objective lifted by TD Cowen from $166.00 to $167.00 in a report published on Monday,Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other research firms have also recently commented on ICE. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial decreased their target price on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research note on Monday, October 5th. Weiss Ratings raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. Finally, Barclays restated an “overweight” rating and issued a $189.00 price target (up from $182.00) on shares of Intercontinental Exchange in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.31.

Intercontinental Exchange Stock Down 0.9%

Shares of NYSE ICE opened at $155.05 on Monday. The stock has a market cap of $87.04 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.48 and a beta of 0.94. The firm has a 50 day moving average price of $156.10 and a 200 day moving average price of $150.75. 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 $176.05.

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 the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. Analysts expect that Intercontinental Exchange will post 8.19 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the transaction, the senior vice president owned 15,863 shares in the company, valued at approximately $2,538,080. This represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the sale, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. This represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,179 shares of company stock worth $6,473,715 in the last ninety days. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Triangle Securities Wealth Management boosted its holdings in shares of Intercontinental Exchange by 1.8% in the 3rd quarter. Triangle Securities Wealth Management now owns 7,770 shares of the financial services provider’s stock valued at $1,181,000 after purchasing an additional 138 shares in the last quarter. Mather Group LLC. increased its stake in shares of Intercontinental Exchange by 11.6% in the 3rd quarter. Mather Group LLC. now owns 2,662 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 277 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of Intercontinental Exchange by 31.8% in the 3rd quarter. Fortitude Family Office LLC now owns 307 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 74 shares during the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Intercontinental Exchange by 4.6% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,033 shares of the financial services provider’s stock worth $309,000 after buying an additional 90 shares in the last quarter. Finally, Investment Planning Advisors Inc. raised its holdings in shares of Intercontinental Exchange by 20.2% during the 3rd quarter. Investment Planning Advisors Inc. now owns 2,551 shares of the financial services provider’s stock worth $388,000 after buying an additional 429 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.