Intercontinental Exchange (NYSE:ICE) PT Raised to $175.00 at Bank of America

Intercontinental Exchange (NYSE:ICE) had its price objective lifted by Bank of America from $168.00 to $175.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price would suggest a potential upside of 7.53% from the stock’s current price.

Several other analysts have also issued reports on the stock. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Citigroup boosted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada started coverage on shares of Intercontinental Exchange in a research report on Friday, September 27th. They issued an “outperform” rating and a $200.00 price target on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.80.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $162.74 on Thursday. The firm has a market cap of $93.35 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $164.18. The firm’s 50-day simple moving average is $158.16 and its two-hundred day simple moving average is $144.36.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,316 shares of company stock valued at $9,835,609 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Point72 Europe London LLP boosted its stake in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares in the last quarter. Perpetual Ltd boosted its stake in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after purchasing an additional 6,272 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Intercontinental Exchange by 819.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after purchasing an additional 122,169 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Intercontinental Exchange by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after purchasing an additional 20,802 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.