Intercontinental Exchange (NYSE:ICE) Price Target Raised to $174.00

Intercontinental Exchange (NYSE:ICE) had its target price boosted by Morgan Stanley from $160.00 to $174.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the company. Citigroup increased their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Finally, TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $172.80.

Intercontinental Exchange Price Performance

ICE opened at $166.83 on Thursday. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $167.23. The company has a 50 day moving average of $160.55 and a two-hundred day moving average of $146.26. The company has a market cap of $95.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $1.43 EPS. The firm’s revenue was up 22.7% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange will post 6.08 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,532 shares of company stock worth $1,358,709 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Intercontinental Exchange by 7.5% during the 1st 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 period. CCLA Investment Management increased its holdings in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after acquiring an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $124,508,000. Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 589.4% during the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after purchasing an additional 687,817 shares during the period. Finally, James Hambro & Partners bought a new position in Intercontinental Exchange in the 2nd quarter worth about $93,340,000. 89.30% of the stock is owned by institutional investors.

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.