Intercontinental Exchange Inc. (NYSE:ICE) Receives $183.33 Average PT from Analysts

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $183.3333.

Several equities analysts have issued reports on ICE shares. Barclays reiterated an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. Weiss Ratings raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, TD Cowen reissued a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 20,725 shares of company stock worth $3,133,148. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently modified their holdings of ICE. Brighton Jones LLC boosted its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after acquiring an additional 6,373 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.4%

Shares of NYSE:ICE opened at $150.35 on Tuesday. Intercontinental Exchange has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $139.52 and its 200-day simple moving average is $152.97. The company has a market cap of $84.40 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange will post 8.08 earnings per share for the current year.

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.