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

Intercontinental Exchange (NYSE:ICE - Get Free Report) had its target price boosted by analysts at UBS Group from $195.00 to $210.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. UBS Group's target price indicates a potential upside of 16.09% from the stock's previous close.

Several other research firms have also issued reports on ICE. Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley raised their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Bank of America dropped their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $189.62.

Intercontinental Exchange Stock Down 1.2%

Shares of Intercontinental Exchange stock traded down $2.19 on Tuesday, reaching $180.90. 1,950,345 shares of the company were exchanged, compared to its average volume of 2,983,918. Intercontinental Exchange has a one year low of $140.32 and a one year high of $184.76. The company has a market capitalization of $103.77 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 1.98 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $177.54 and a 200 day moving average of $166.98.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. On average, equities research analysts forecast that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $2,749,500. This represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,749 shares of company stock worth $40,942,387 in the last three months. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares during the last quarter. Tsfg LLC lifted its holdings in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $29,000. Rakuten Securities Inc. lifted its holdings in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares during the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after acquiring an additional 162 shares during the last quarter. 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.