Intercontinental Exchange (NYSE:ICE) Price Target Raised to $147.00

Intercontinental Exchange (NYSE:ICEGet Rating) had its target price upped by research analysts at Morgan Stanley from $145.00 to $147.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 17.76% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank of America began coverage on shares of Intercontinental Exchange in a research report on Thursday, December 16th. They set a “neutral” rating and a $158.00 target price for the company. Raymond James lowered their price objective on Intercontinental Exchange from $161.00 to $157.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 6th. Credit Suisse Group assumed coverage on Intercontinental Exchange in a research report on Tuesday, February 15th. They set an “outperform” rating and a $160.00 target price on the stock. StockNews.com initiated coverage on Intercontinental Exchange in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Rosenblatt Securities increased their price objective on shares of Intercontinental Exchange from $156.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday, March 8th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $153.90.

Shares of NYSE ICE opened at $124.83 on Wednesday. The stock has a market capitalization of $69.96 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.49 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.54. Intercontinental Exchange has a 12-month low of $109.04 and a 12-month high of $139.79. The stock’s fifty day simple moving average is $129.61 and its two-hundred day simple moving average is $130.39.

Intercontinental Exchange (NYSE:ICEGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. Intercontinental Exchange had a return on equity of 13.62% and a net margin of 44.26%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange will post 5.63 earnings per share for the current fiscal year.

In related news, insider Lynn C. Martin sold 5,471 shares of the stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $120.95, for a total value of $661,717.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David S. Goone sold 36,570 shares of Intercontinental Exchange stock in a transaction on Friday, March 4th. The stock was sold at an average price of $135.02, for a total transaction of $4,937,681.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,224 shares of company stock worth $11,688,307. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marietta Wealth Management LLC grew its holdings in shares of Intercontinental Exchange by 0.3% during the 1st quarter. Marietta Wealth Management LLC now owns 55,168 shares of the financial services provider’s stock worth $7,289,000 after purchasing an additional 156 shares during the period. CAPROCK Group Inc. increased its position in shares of Intercontinental Exchange by 8.7% during the first quarter. CAPROCK Group Inc. now owns 5,006 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 402 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in shares of Intercontinental Exchange by 7.4% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 105,020 shares of the financial services provider’s stock valued at $13,875,000 after acquiring an additional 7,236 shares during the period. Beese Fulmer Investment Management Inc. lifted its holdings in shares of Intercontinental Exchange by 0.8% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 89,571 shares of the financial services provider’s stock worth $11,834,000 after acquiring an additional 680 shares during the last quarter. Finally, Cascade Investment Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $1,305,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Intercontinental Exchange Company Profile (Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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