Weiss Ratings Reaffirms “Buy (B)” Rating for Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange (NYSE:ICE)‘s stock had its “buy (b)” rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued research reports about the company. Piper Sandler increased 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. Morgan Stanley dropped their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Barclays restated 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. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.10.

Intercontinental Exchange Trading Down 1.6%

NYSE:ICE opened at $159.31 on Wednesday. The company has a market cap of $91.19 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.97 and a beta of 1.08. The stock’s fifty day moving average price is $175.06 and its two-hundred day moving average price is $174.37. Intercontinental Exchange has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,874 shares of company stock valued at $42,187,714. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ICE. Tsfg LLC increased its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the second quarter valued at $28,000. Rakuten Securities Inc. increased its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Activest Wealth Management increased its stake in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares during the last quarter. Finally, Westside Investment Management Inc. bought a new position in shares of Intercontinental Exchange during the second quarter valued at about $29,000. Institutional investors own 89.30% of the company’s stock.

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.