Intercontinental Exchange Inc. (NYSE:ICE) Given Average Rating of "Moderate Buy" by Brokerages

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $198.20.

A number of equities research analysts recently commented on ICE shares. UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Morgan Stanley decreased their target price on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, September 25th. Finally, Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $161.76 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $92.60 billion, a PE ratio of 31.05, a P/E/G ratio of 1.94 and a beta of 1.08. The business has a 50-day simple moving average of $175.60 and a two-hundred day simple moving average of $174.47. Intercontinental Exchange has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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 firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred 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 transaction, the senior vice president owned 25,796 shares of the company's stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,874 shares of company stock valued at $42,187,714 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ICE. Cooper Financial Group acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $228,000. Threadgill Financial LLC raised its stake in shares of Intercontinental Exchange by 16.1% during the 3rd quarter. Threadgill Financial LLC now owns 28,380 shares of the financial services provider's stock worth $4,781,000 after buying an additional 3,931 shares during the period. Grant Private Wealth Management Inc acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $413,000. Assenagon Asset Management S.A. raised its stake in shares of Intercontinental Exchange by 503.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,133,892 shares of the financial services provider's stock worth $191,038,000 after buying an additional 946,065 shares during the period. Finally, Oak Thistle LLC raised its stake in shares of Intercontinental Exchange by 20.0% during the 3rd quarter. Oak Thistle LLC now owns 2,747 shares of the financial services provider's stock worth $463,000 after buying an additional 457 shares during the period. 89.30% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.