Intercontinental Exchange (NYSE:ICE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Intercontinental Exchange (NYSE:ICE) had its target price increased by Piper Sandler from $180.00 to $202.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price indicates a potential upside of 11.71% from the stock’s previous close.

Several other research firms also recently issued reports on ICE. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Barclays raised their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.42.

Intercontinental Exchange Stock Performance

ICE stock opened at $180.82 on Tuesday. The firm has a market cap of $103.72 billion, a PE ratio of 37.44, a P/E/G ratio of 1.98 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $178.80 and a 200-day moving average of $168.22. Intercontinental Exchange has a 12-month low of $142.29 and a 12-month high of $183.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the sale, the chief accounting officer owned 13,220 shares of the company’s stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer owned 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,119 shares of company stock valued at $40,524,217 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ICE. REAP Financial Group LLC lifted its stake in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC lifted its stake in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth $29,000. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares in the last quarter. Finally, Activest Wealth Management lifted its stake in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 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.