Intercontinental Exchange (NYSE:ICE) Given New $180.00 Price Target at The Goldman Sachs Group

Intercontinental Exchange (NYSE:ICE) had its price objective reduced by analysts at The Goldman Sachs Group from $208.00 to $180.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 46.63% from the company’s current price.

ICE has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, TD Cowen decreased their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.58.

Intercontinental Exchange Trading Down 0.9%

NYSE ICE opened at $122.76 on Tuesday. The firm has a market capitalization of $69.42 billion, a PE ratio of 17.87, a P/E/G ratio of 1.16 and a beta of 0.92. The stock’s 50 day moving average is $147.11 and its 200 day moving average is $157.36. Intercontinental Exchange has a twelve month low of $121.79 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm earned $1.72 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. Research analysts forecast that Intercontinental Exchange will post 8.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock worth $2,046,324 in the last quarter. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC lifted its stake in shares of Intercontinental Exchange by 275.0% in the 1st quarter. Western Wealth Management LLC now owns 8,952 shares of the financial services provider’s stock worth $1,408,000 after purchasing an additional 6,565 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in Intercontinental Exchange during the first quarter valued at approximately $11,498,000. First National Bank of Mount Dora Trust Investment Services raised its position in Intercontinental Exchange by 5.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 27,108 shares of the financial services provider’s stock worth $4,264,000 after acquiring an additional 1,360 shares during the period. Parallel Advisors LLC boosted its stake in shares of Intercontinental Exchange by 3.5% during the 1st quarter. Parallel Advisors LLC now owns 7,042 shares of the financial services provider’s stock worth $1,108,000 after acquiring an additional 236 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Intercontinental Exchange by 41.3% during the 1st quarter. NewEdge Advisors LLC now owns 39,775 shares of the financial services provider’s stock worth $6,256,000 after acquiring an additional 11,624 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

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.