Intercontinental Exchange (NYSE:ICE) Price Target Raised to $192.00

Intercontinental Exchange (NYSE:ICE - Get Free Report) had its price target upped by equities research analysts at Morgan Stanley from $181.00 to $192.00 in a report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective would suggest a potential upside of 9.91% from the company's current price.

Several other equities research analysts have also commented on ICE. Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday. StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America lowered their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $185.93.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $1.24 during trading on Monday, hitting $174.69. 229,681 shares of the stock traded hands, compared to its average volume of 2,918,351. The company has a fifty day moving average price of $166.47 and a two-hundred day moving average price of $160.58. Intercontinental Exchange has a 52-week low of $130.39 and a 52-week high of $177.45. The company has a market cap of $100.36 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange will post 6.73 EPS for the current year.

Insider Buying and Selling

In other news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lynn C. Martin sold 4,155 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $165.60, for a total transaction of $688,068.00. Following the completion of the sale, the insider now owns 57,376 shares in the company, valued at approximately $9,501,465.60. This trade represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,931 shares of company stock worth $10,492,868. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC grew its stake in shares of Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after buying an additional 63 shares in the last quarter. Values Added Financial LLC boosted its holdings in Intercontinental Exchange by 4.4% during the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 64 shares during the period. Strategic Advisors LLC grew its position in Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock valued at $201,000 after acquiring an additional 66 shares in the last quarter. MV Capital Management Inc. increased its stake in Intercontinental Exchange by 15.7% during the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock worth $86,000 after purchasing an additional 68 shares during the period. Finally, Commons Capital LLC lifted its position in shares of Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider's stock worth $886,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other 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.

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