Intercontinental Exchange Inc. (NYSE:ICE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Intercontinental Exchange Inc. has received an average recommendation of "Moderate Buy" from twelve brokerages, with two analysts recommending a hold and ten recommending a buy.
• The average price target among brokers for Intercontinental Exchange is $194.92, reflecting increased confidence in the stock, with notable upgrades from firms like Piper Sandler and Barclays.
• In recent insider transactions, CEO Jeffrey C. Sprecher sold 150,000 shares of the company, representing a 7.14% decrease in his position, worth over $27 million.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $194.9167.

Several research firms have recently weighed in on ICE. Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays boosted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $174.02 on Friday. The stock has a market cap of $99.61 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.10 and a beta of 1.10. Intercontinental Exchange has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a 50 day moving average of $180.62 and a two-hundred day moving average of $174.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion during 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 company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share. On average, research analysts forecast that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock worth $42,171,892 over the last three months. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tema Etfs LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $1,107,000. Capital Investment Advisory Services LLC acquired a new position in Intercontinental Exchange during the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC grew its holdings in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 1,879 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,949,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Intercontinental Exchange by 52.3% in the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after acquiring an additional 2,732 shares during the period. Institutional investors and hedge funds 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.

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