Intercontinental Exchange Inc. (NYSE:ICE) Stock Has Consensus Price Target of $189.25 According to Brokerages

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $189.25.

Several research analysts have recently weighed in on ICE shares. Bank of America lifted their target price on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Wells Fargo & Company increased their price objective on Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a report on Friday, October 30th. Morgan Stanley upped their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd.

More Intercontinental Exchange News

Here’s some of the latest news about ICE:

• Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
• Positive Sentiment: Analyst sentiment is favorable: ICE has a consensus “Moderate Buy” rating and an average price target of $189.25, above the roughly $178 share price cited in the coverage. Article: Intercontinental Exchange stock has consensus price target of $189.25
• Neutral Sentiment: A Seeking Alpha analysis remained bullish after ICE’s recent rally, supporting the longer-term outlook but noting a substantial run-up that could temper near-term upside. Article: Intercontinental Exchange: Still a Buy After the 18% Rally

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James Namkung sold 3,777 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the transaction, the chief accounting officer owned 10,325 shares of the company’s stock, valued at $1,806,875. The trade was a 26.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 12,862 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the sale, the president owned 164,264 shares of the company’s stock, valued at $26,297,023.76. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 56,272 shares of company stock worth $9,403,571. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. State Street Corp grew its stake in shares of Intercontinental Exchange by 1.6% in the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after acquiring an additional 415,490 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 16.1% in the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after acquiring an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Intercontinental Exchange during the second quarter worth $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intercontinental Exchange by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock worth $652,257,000 after acquiring an additional 52,910 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded up $0.57 during trading on Thursday, hitting $178.43. The stock had a trading volume of 2,203,731 shares, compared to its average volume of 3,534,859. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $99.72 billion, a P/E ratio of 24.34, a PEG ratio of 1.57 and a beta of 0.84. The business has a fifty day moving average of $160.31 and a two-hundred day moving average of $154.73. Intercontinental Exchange has a fifty-two week low of $121.79 and a fifty-two week high of $181.38.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the business earned $1.71 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange will post 8.21 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.