Intercontinental Exchange (NYSE:ICE) Given New $178.00 Price Target at Morgan Stanley

Intercontinental Exchange (NYSE:ICE) had its price objective reduced by Morgan Stanley from $188.00 to $178.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Barclays reiterated an “overweight” rating and set a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price on the stock in a research report on Monday, October 13th. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.60.

Intercontinental Exchange Stock Up 1.0%

ICE opened at $156.78 on Tuesday. The business’s 50-day simple moving average is $169.72 and its 200-day simple moving average is $173.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange has a one year low of $142.29 and a one year high of $189.35. The stock has a market capitalization of $89.74 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange will post 6.73 EPS for the current year.

Insider Activity

In related news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,956 shares of company stock valued at $43,789,542. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds have recently added to or reduced their stakes in the company. Advisors Capital Management LLC lifted its position in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 396 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in Intercontinental Exchange in the first quarter valued at about $349,000. Sequoia Financial Advisors LLC lifted its position in Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock valued at $2,099,000 after purchasing an additional 1,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Intercontinental Exchange by 6.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,143 shares of the financial services provider’s stock valued at $11,927,000 after purchasing an additional 4,107 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Intercontinental Exchange by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock valued at $6,067,000 after purchasing an additional 3,760 shares during the period. Institutional investors and hedge funds 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.