Argus Reiterates Buy Rating for Intercontinental Exchange (NYSE:ICE)

Argus restated their buy rating on shares of Intercontinental Exchange (NYSE:ICE) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $153.00 price objective on the financial services provider’s stock.

ICE has been the subject of several other reports. Citigroup raised their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Barclays cut their price target on Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a report on Friday, May 3rd. Bank of America cut their price target on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating for the company in a report on Friday, April 19th. Piper Sandler increased their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research report on Monday, February 12th. Finally, StockNews.com upgraded Intercontinental Exchange from a sell rating to a hold rating in a research report on Monday, May 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $148.29.

Intercontinental Exchange Price Performance

NYSE ICE opened at $135.40 on Tuesday. The business has a 50 day simple moving average of $134.24 and a 200 day simple moving average of $128.49. Intercontinental Exchange has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $77.66 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.56 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business earned $1.41 EPS. Intercontinental Exchange’s revenue for the quarter was up 20.8% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,467 shares of company stock worth $8,433,168. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Annapolis Financial Services LLC boosted its stake in shares of 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 valued at $25,000 after purchasing an additional 163 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange during the third quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter valued at about $26,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

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.