UBS Group Issues Pessimistic Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Key Points

• UBS Group cut its price target on Intercontinental Exchange from $205 to $190, while keeping a buy rating. The new target still implies roughly 40% upside from the prior close.
• Analysts remain generally positive on ICE, with a consensus rating of Moderate Buy and an average price target of $187.08. Recent reports included several raised or reiterated targets, though some firms were more cautious.
• Intercontinental Exchange recently reported strong quarterly results, beating EPS and revenue expectations with $2.35 EPS and $3.67 billion in revenue. The company also saw insider share sales, while institutional ownership remained very high at 89.3%.

Intercontinental Exchange (NYSE:ICE - Get Free Report) had its price target reduced by equities research analysts at UBS Group from $205.00 to $190.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. UBS Group's price target would suggest a potential upside of 40.49% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 target price for the company. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Weiss Ratings lowered shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. Piper Sandler reissued an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Barclays restated an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $187.08.

Intercontinental Exchange Trading Up 0.2%

Shares of NYSE:ICE opened at $135.24 on Tuesday. The business's 50 day moving average price is $144.62 and its 200-day moving average price is $156.42. Intercontinental Exchange has a 1 year low of $121.79 and a 1 year high of $189.35. The firm has a market capitalization of $76.48 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The firm's revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange will post 8.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock worth $2,046,324 over the last ninety days. Company insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its stake in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter valued at $1,418,228,000. Viking Global Investors LP purchased a new position in Intercontinental Exchange during the 4th quarter worth $777,926,000. Wellington Management Group LLP increased its stake in shares of Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the period. Finally, Boston Partners raised its holdings in Intercontinental Exchange by 148.6% during the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider's stock worth $519,701,000 after purchasing an additional 1,914,851 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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