Intercontinental Exchange, Inc. (NYSE:ICE) Receives $152.07 Average Target Price from Analysts

Intercontinental Exchange, Inc. (NYSE:ICE) has received an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $152.07.

A number of analysts have commented on the company. Argus reiterated a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Bank of America lowered their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Barclays boosted their price target on Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Morgan Stanley lifted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd.

Intercontinental Exchange Stock Down 0.1 %

ICE stock opened at $147.68 on Monday. The company has a 50-day moving average of $138.38 and a two-hundred day moving average of $134.90. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $149.60. The stock has a market capitalization of $84.71 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange will post 5.99 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now directly owns 14,636 shares in the company, valued at approximately $2,174,909.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now directly owns 14,636 shares in the company, valued at $2,174,909.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,290 shares of company stock valued at $9,086,274. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently bought and sold shares of ICE. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP grew its position in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Capital World Investors increased its stake in Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. Parnassus Investments LLC lifted its position in Intercontinental Exchange by 23.8% during the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after buying an additional 1,621,737 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $839,259,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

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.