Intercontinental Exchange (NYSE:ICE) Stock Price Expected to Rise, TD Cowen Analyst Says

Intercontinental Exchange (NYSE:ICE) had its price objective upped by equities research analysts at TD Cowen from $166.00 to $167.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective indicates a potential upside of 6.84% from the stock’s current price.

Several other research firms have also issued reports on ICE. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays reaffirmed an “overweight” rating and issued a $189.00 price target (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Raymond James Financial lowered their price objective on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research report on Monday, October 5th. Rothschild & Co Redburn increased their price objective on Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. 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 stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $186.25.

Intercontinental Exchange Stock Down 0.7%

Shares of NYSE:ICE opened at $156.31 on Monday. The stock’s 50-day moving average price is $155.99 and its 200-day moving average price is $150.76. Intercontinental Exchange has a 12-month low of $121.79 and a 12-month high of $176.05. The stock has a market capitalization of $87.75 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange will post 8.18 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. The trade was a 25.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 41,179 shares of company stock valued at $6,473,715. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Keystone Financial Group Inc. increased its stake in shares of Intercontinental Exchange by 24.4% during the third quarter. Keystone Financial Group Inc. now owns 1,096 shares of the financial services provider’s stock valued at $167,000 after buying an additional 215 shares during the period. Signal Advisors Wealth LLC raised its holdings in shares of Intercontinental Exchange by 24.1% during the third quarter. Signal Advisors Wealth LLC now owns 15,389 shares of the financial services provider’s stock valued at $2,340,000 after acquiring an additional 2,990 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $349,000. Krilogy Financial LLC lifted its stake in Intercontinental Exchange by 9.5% in the third quarter. Krilogy Financial LLC now owns 36,019 shares of the financial services provider’s stock worth $5,670,000 after acquiring an additional 3,125 shares during the period. Finally, Mechanics Bank Trust Department purchased a new stake in Intercontinental Exchange in the third quarter worth $233,000. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.