Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its price target cut by investment analysts at Deutsche Bank Aktiengesellschaft from $169.00 to $160.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 3.47% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Bank of America upped their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Stock Down 0.8 %

ICE stock opened at $154.64 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market capitalization of $88.79 billion, a P/E ratio of 36.64, a P/E/G ratio of 2.35 and a beta of 1.08. Intercontinental Exchange has a 52-week low of $104.91 and a 52-week high of $167.99. The company’s 50 day simple moving average is $161.98 and its 200-day simple moving average is $148.33.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities research analysts anticipate that Intercontinental Exchange will post 6.13 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock worth $1,202,259 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the period. CCLA Investment Management lifted its position in shares of Intercontinental Exchange by 91,838.2% during the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after buying an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at $124,508,000. Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after buying an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners bought a new stake in Intercontinental Exchange in the second quarter valued at $93,340,000. 89.30% of the stock is owned by institutional investors.

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.