Intercontinental Exchange Inc. (ICE) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is broadly positive: Intercontinental Exchange has a “Moderate Buy” consensus, with 13 of 17 analysts rating it buy or strong buy and an average 1-year price target of $189.25.
• Quarterly results topped estimates: ICE reported adjusted earnings of $2.02 per share versus $1.97 expected, while revenue rose 14.7% year over year to $3.63 billion.
• Insiders have been selling shares: Company insiders sold 45,325 shares worth about $7.47 million over the last three months; institutional investors and hedge funds own 89.3% of the stock.

Shares of Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $189.25.

A number of equities analysts have commented on ICE shares. Weiss Ratings upgraded Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 21st. Raymond James Financial lowered their target price on Intercontinental Exchange from $218.00 to $211.00 and set a "strong-buy" rating for the company in a report on Monday, October 5th. UBS Group reissued a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Argus cut their price target on Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, October 30th.

Intercontinental Exchange Stock Up 2.3%

Shares of NYSE:ICE opened at $180.45 on Thursday. The stock has a market capitalization of $100.84 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.55 and a beta of 0.84. Intercontinental Exchange has a 1-year low of $121.79 and a 1-year high of $180.71. The company's fifty day moving average is $159.63 and its two-hundred day moving average is $154.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, beating 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 business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the business posted $1.71 EPS. The company's quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange will post 8.21 EPS for the current year.

Insider Buying and Selling

In related news, insider Christopher Edmonds sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the sale, the insider owned 14,367 shares of the company's stock, valued at $2,307,196.53. This trade represents a 25.82% 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, CAO James W. Namkung sold 3,777 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the sale, the chief accounting officer directly owned 10,325 shares in the company, valued at approximately $1,806,875. This trade represents a 26.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 45,325 shares of company stock valued at $7,471,345 in the last three months. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Intercontinental Exchange in the 2nd quarter worth approximately $714,869,000. Flossbach Von Storch SE bought a new position in Intercontinental Exchange in the 2nd quarter worth approximately $649,900,000. Bank of America Corp DE acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $521,557,000. Finally, Jupiter Topco LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $474,012,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.