Intercontinental Exchange (NYSE:ICE) Price Target Raised to $193.00

Intercontinental Exchange (NYSE:ICE) had its price target boosted by analysts at TD Cowen from $175.00 to $193.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 13.06% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays set a $182.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Thursday, January 8th. Raymond James Financial reissued a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $192.90.

Intercontinental Exchange Stock Up 2.4%

ICE traded up $4.02 during midday trading on Wednesday, hitting $170.71. 1,604,327 shares of the company’s stock traded hands, compared to its average volume of 2,818,534. The company has a market cap of $97.34 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The stock’s fifty day simple moving average is $158.26 and its 200-day simple moving average is $167.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange has a one year low of $143.17 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. As a group, equities analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 166,068 shares of company stock valued at $25,470,702 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $29,000. Hilltop National Bank bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $31,000. Knuff & Co LLC raised its position in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the period. Finally, Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.