Intercontinental Exchange, Inc. (NYSE:ICE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Intercontinental Exchange, Inc. (NYSE:ICE) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $175.07.

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America boosted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated 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 transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,946 shares of company stock worth $1,433,486 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ICE. Assenagon Asset Management S.A. increased its holdings in shares of Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after buying an additional 122,169 shares during the period. Blue Trust Inc. increased its stake in Intercontinental Exchange by 312.4% in the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 3,924 shares during the period. GDS Wealth Management lifted its position in Intercontinental Exchange by 5.3% in the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock valued at $16,612,000 after purchasing an additional 5,226 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $873,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Intercontinental Exchange by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock worth $504,746,000 after purchasing an additional 21,615 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $158.20 on Thursday. The company has a market cap of $90.83 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.58 and a beta of 1.08. Intercontinental Exchange has a fifty-two week low of $116.21 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average price of $160.23 and a 200-day moving average price of $153.05.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion for 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%. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, equities analysts anticipate that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

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.