Weiss Ratings Reaffirms "Buy (B)" Rating for Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange (NYSE:ICE - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

ICE has been the subject of several other reports. UBS Group raised their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a "moderate buy" rating in a research note on Monday. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley cut their price target on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $197.10.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $159.31 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day moving average of $175.06 and a 200-day moving average of $174.37. The company has a market cap of $91.19 billion, a PE ratio of 30.58, a P/E/G ratio of 1.97 and a beta of 1.08. Intercontinental Exchange has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The company 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 firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS. On average, equities research analysts predict that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares of the company's stock, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock valued at $42,187,714 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Intercontinental Exchange in the second quarter valued at approximately $1,542,780,000. Price T Rowe Associates Inc. MD lifted its stake in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Nuveen LLC purchased a new position in Intercontinental Exchange in the first quarter valued at approximately $575,383,000. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the last quarter. Finally, Sands Capital Management LLC lifted its stake in Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider's stock valued at $974,783,000 after purchasing an additional 2,620,310 shares during the last quarter. 89.30% of the stock is owned by 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.

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