Piper Sandler Issues Pessimistic Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its price target lowered by investment analysts at Piper Sandler from $211.00 to $190.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 34.15% from the stock’s current price.

ICE has been the subject of several other research reports. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Barclays dropped their price objective on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley reduced their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. The Goldman Sachs Group decreased their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Stock Up 1.3%

Shares of NYSE ICE opened at $141.63 on Wednesday. The stock has a market cap of $80.09 billion, a P/E ratio of 20.62, a P/E/G ratio of 1.43 and a beta of 0.94. The firm has a 50 day moving average price of $141.16 and a 200 day moving average price of $154.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange has a 52-week low of $121.79 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Analysts expect that Intercontinental Exchange will post 8.11 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Institutional investors have recently modified their holdings of the company. ICONIQ Capital LLC raised its position in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the last quarter. Mechanics Financial Corp boosted its position in Intercontinental Exchange by 1.0% during the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 60 shares during the last quarter. Mission Wealth Management LP boosted its position in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 63 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.