Intercontinental Exchange Inc. (NYSE:ICE) Stock Has Average Price Target of $184.17

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $184.17.

A number of brokerages recently commented on ICE. Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Raymond James Financial restated a “strong-buy” rating and set a $218.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, September 1st. UBS Group reaffirmed a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Morgan Stanley cut their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th.

Intercontinental Exchange Trading Down 1.6%

Shares of ICE opened at $154.44 on Wednesday. The stock has a market capitalization of $86.70 billion, a PE ratio of 21.81, a P/E/G ratio of 1.52 and a beta of 0.93. The company’s fifty day moving average is $154.71 and its 200 day moving average is $151.27. 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 fifty-two week low of $121.79 and a fifty-two week high of $176.05.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business earned $1.81 earnings per share. Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange will post 8.1 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,862 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the transaction, the president directly owned 164,264 shares in the company, valued at approximately $26,297,023.76. This represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Edmonds sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 41,179 shares of company stock worth $6,473,715. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. boosted its holdings in Intercontinental Exchange by 14.2% during the 2nd quarter. QRG Capital Management Inc. now owns 21,465 shares of the financial services provider’s stock valued at $2,643,000 after acquiring an additional 2,662 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Intercontinental Exchange by 20.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 31,319 shares of the financial services provider’s stock worth $3,856,000 after purchasing an additional 5,345 shares during the period. Andra AP fonden lifted its position in shares of Intercontinental Exchange by 220.6% during the second quarter. Andra AP fonden now owns 115,100 shares of the financial services provider’s stock worth $14,170,000 after purchasing an additional 79,200 shares during the last quarter. State Street Corp lifted its position in shares of Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Finally, Capstone Financial Advisors Inc. lifted its position in shares of Intercontinental Exchange by 1.4% during the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.