Barclays Boosts Intercontinental Exchange (NYSE:ICE) Price Target to $212.00

Key Points

• Barclays has raised its price target for Intercontinental Exchange (ICE) from $206.00 to $212.00, indicating a potential upside of 15.65% from its current price.
• Intercontinental Exchange reported $1.81 earnings per share for the last quarter, surpassing analysts' expectations of $1.77.
• The stock currently has an average rating of "Moderate Buy" with ten analysts issuing buy ratings and three rating it hold.

Intercontinental Exchange (NYSE:ICE - Get Free Report) had its price objective hoisted by equities research analysts at Barclays from $206.00 to $212.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Barclays's target price points to a potential upside of 15.65% from the stock's current price.

ICE has been the subject of several other research reports. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Trading Down 1.3%

ICE opened at $183.32 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a fifty-two week low of $142.29 and a fifty-two week high of $187.38. The firm has a market capitalization of $105.15 billion, a PE ratio of 37.84, a P/E/G ratio of 2.04 and a beta of 1.11. The company's 50-day moving average is $180.54 and its 200 day moving average is $170.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business posted $1.52 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 795 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock worth $40,671,107 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at $28,000. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Activest Wealth Management boosted its holdings in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 162 shares during the period. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the period. Finally, REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the period. 89.30% of the stock is owned by institutional investors.

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.

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