Bank of America Trims Intercontinental Exchange (NYSE:ICE) Target Price to $153.00

Intercontinental Exchange (NYSE:ICE) had its target price reduced by analysts at Bank of America from $156.00 to $153.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price indicates a potential upside of 17.17% from the company’s previous close.

Other equities analysts have also issued reports about the company. Rosenblatt Securities boosted their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James boosted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.08.

Intercontinental Exchange Trading Down 0.3 %

Shares of NYSE ICE traded down $0.40 during midday trading on Friday, hitting $130.58. The stock had a trading volume of 861,094 shares, compared to its average volume of 2,378,216. The company has a market capitalization of $74.77 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.07 and a beta of 1.02. Intercontinental Exchange has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average price of $136.36 and a 200 day moving average price of $124.27.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, analysts predict that Intercontinental Exchange will post 5.98 earnings per share for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in shares of Intercontinental Exchange by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 62,141 shares of the financial services provider’s stock valued at $8,540,000 after acquiring an additional 335 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Intercontinental Exchange by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,231,539 shares of the financial services provider’s stock valued at $306,680,000 after purchasing an additional 13,990 shares during the period. MBM Wealth Consultants LLC boosted its stake in Intercontinental Exchange by 1.3% during the 1st quarter. MBM Wealth Consultants LLC now owns 8,458 shares of the financial services provider’s stock valued at $1,162,000 after purchasing an additional 108 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its stake in Intercontinental Exchange by 3.6% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 667,159 shares of the financial services provider’s stock valued at $91,930,000 after purchasing an additional 23,066 shares during the period. Finally, Dash Acquisitions Inc. boosted its stake in Intercontinental Exchange by 3.4% during the 1st quarter. Dash Acquisitions Inc. now owns 56,721 shares of the financial services provider’s stock valued at $7,416,000 after purchasing an additional 1,840 shares during the period. Institutional investors and hedge funds 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.