Bank of America Raises Intercontinental Exchange (NYSE:ICE) Price Target to $175.00

Intercontinental Exchange (NYSE:ICE) had its price objective upped by Bank of America from $168.00 to $175.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a buy rating and a $182.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a hold rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Intercontinental Exchange from a hold rating to a sell rating in a report on Friday, September 6th. Keefe, Bruyette & Woods reiterated an outperform rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $167.80.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $162.76 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $164.18. The stock has a market cap of $93.36 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The firm’s fifty day simple moving average is $158.16 and its 200-day simple moving average is $144.48.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Analysts expect that Intercontinental Exchange will post 6.04 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,921 shares of company stock worth $9,779,862. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Point72 Europe London LLP raised its stake in shares of Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares in the last quarter. Perpetual Ltd raised its stake in shares of Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after purchasing an additional 6,272 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after purchasing an additional 122,169 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Intercontinental Exchange by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after acquiring an additional 20,802 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

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.