Intercontinental Exchange’s (ICE) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

Intercontinental Exchange (NYSE:ICE)‘s stock had its “outperform” rating restated by Keefe, Bruyette & Woods in a report issued on Wednesday,Benzinga reports. They presently have a $190.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 14.34% from the company’s previous close.

A number of other equities research analysts also recently issued reports on ICE. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $191.30.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.18 on Wednesday. The company has a market cap of $94.13 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.75 and a beta of 1.03. The firm’s fifty day moving average is $160.87 and its 200 day moving average is $160.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange has a 52-week low of $143.17 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Sell-side analysts forecast that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the sale, the chief financial officer owned 27,679 shares of the company’s stock, valued at approximately $4,262,566. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares in the company, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ICE. Brighton Jones LLC grew its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. CW Advisors LLC grew its holdings in shares of Intercontinental Exchange by 25.7% in the second quarter. CW Advisors LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 425 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Intercontinental Exchange by 6.7% in the second quarter. Daiwa Securities Group Inc. now owns 104,737 shares of the financial services provider’s stock worth $19,215,000 after purchasing an additional 6,559 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

About Intercontinental Exchange

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.