Barclays Raises Intercontinental Exchange (NYSE:ICE) Price Target to $179.00

by · The Markets Daily

Intercontinental Exchange (NYSE:ICE – Free Report) had its price objective upped by Barclays from $167.00 to $179.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently commented on ICE. StockNews.com upgraded Intercontinental Exchange from a sell rating to a hold rating in a research report on Thursday, October 3rd. Citigroup raised their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Raymond James upped their price objective on shares of Intercontinental Exchange from $174.00 to $185.00 and gave the company a strong-buy rating in a research note on Friday, October 4th. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a buy rating and a $182.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a hold rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange has an average rating of Moderate Buy and an average price target of $170.67.

Get Our Latest Analysis on Intercontinental Exchange

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $161.70 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $164.18. The business’s 50 day moving average is $158.54 and its two-hundred day moving average is $144.81. The company has a market capitalization of $92.75 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS. Analysts expect that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,532 shares of company stock worth $1,507,309. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. Annapolis Financial Services LLC raised its holdings in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter valued at $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

About Intercontinental Exchange

(Get Free Report)

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.

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