Intercontinental Exchange, Inc. (NYSE:ICE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $173.93.

Several equities research analysts have recently issued reports on the company. TD Cowen started coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Bank of America increased their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, October 4th. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th.

Intercontinental Exchange Stock Down 1.0 %

ICE stock opened at $165.31 on Wednesday. The company has a 50 day moving average of $161.61 and a two-hundred day moving average of $147.38. The company has a market cap of $94.91 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 2.50 and a beta of 1.08. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $167.64. 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 data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $1.43 earnings per share. Intercontinental Exchange’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange will post 6.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares in the company, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently added to or reduced their stakes in ICE. Wolff Wiese Magana LLC grew its holdings in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth approximately $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $25,000. Finally, Annapolis Financial Services LLC grew its position in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

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.