Bank of America Trims Intercontinental Exchange (NYSE:ICE) Target Price to $153.00

Intercontinental Exchange (NYSE:ICE) had its target price lowered by equities researchers at Bank of America from $156.00 to $153.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 17.17% from the company’s current price.

A number of other research firms have also weighed in on ICE. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Rosenblatt Securities upped their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Barclays boosted their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $0.40 during trading hours on Friday, hitting $130.58. 861,094 shares of the company’s stock traded hands, compared to its average volume of 2,378,216. The business’s fifty day moving average price is $136.36 and its two-hundred day moving average price is $124.27. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $74.77 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.07 and a beta of 1.02. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 earnings per share. Equities research analysts predict that Intercontinental Exchange will post 5.98 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the transaction, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the transaction, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,238 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $137.36, for a total transaction of $307,411.68. Following the transaction, the director now owns 29,347 shares in the company, valued at $4,031,103.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,491 shares of company stock worth $21,454,204. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RB Capital Management LLC raised its position in shares of Intercontinental Exchange by 3.2% in the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 126 shares during the last quarter. United Bank raised its position in shares of Intercontinental Exchange by 2.7% in the 1st quarter. United Bank now owns 15,988 shares of the financial services provider’s stock valued at $2,112,000 after purchasing an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in Intercontinental Exchange by 13.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after buying an additional 220 shares during the last quarter. Sei Investments Co. raised its position in Intercontinental Exchange by 31.5% during the 1st quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after buying an additional 49,081 shares during the last quarter. Finally, Prudential PLC purchased a new position in Intercontinental Exchange during the 1st quarter worth approximately $1,679,000. 89.30% of the stock is currently 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.