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

Intercontinental Exchange (NYSE:ICE) had its price objective boosted by equities researchers at Barclays from $159.00 to $167.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 11.44% from the stock’s previous close.

Several other brokerages have also recently issued reports on ICE. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their target price for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and reduced their target price for the stock from $155.00 to $152.00 in a report on Friday. Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Argus reissued a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Finally, Bank of America reduced their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $153.86.

Intercontinental Exchange Trading Down 0.8 %

NYSE ICE opened at $149.85 on Friday. The company has a fifty day simple moving average of $141.10 and a two-hundred day simple moving average of $136.46. The stock has a market cap of $85.95 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.68 and a beta of 1.06. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $153.28. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company posted $1.43 earnings per share. On average, analysts forecast that Intercontinental Exchange will post 6 earnings per share for the current year.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the sale, the director now owns 28,849 shares in the company, valued at $3,882,209.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total transaction of $305,070.19. Following the transaction, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 64,992 shares of company stock worth $9,197,801 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. D.A. Davidson & CO. raised its stake in Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares during the period. Point72 Europe London LLP raised its stake in Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after purchasing an additional 6,500 shares during the period. Perpetual Ltd raised its stake in Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after purchasing an additional 6,272 shares during the period. Finally, LGT Group Foundation raised its stake in Intercontinental Exchange by 36.0% during the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after purchasing an additional 94,039 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.