Intercontinental Exchange (NYSE:ICE) Lifted to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Intercontinental Exchange (NYSE:ICE) from a neutral rating to a buy rating in a report published on Monday, MarketBeat reports. The Goldman Sachs Group currently has $167.00 price target on the financial services provider’s stock, up from their previous price target of $143.00.

Several other research firms have also recently issued reports on ICE. Barclays decreased their price objective on shares of Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Argus reaffirmed a buy rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Bank of America decreased their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating for the company in a research report on Friday, April 19th. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $151.29.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $141.14 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $141.59. The stock has a market capitalization of $80.96 billion, a PE ratio of 32.31, a P/E/G ratio of 2.55 and a beta of 1.06. The firm has a 50 day moving average of $134.79 and a two-hundred day moving average of $133.12.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. On average, research analysts predict that Intercontinental Exchange will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 4,506 shares of company stock worth $609,374. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC grew its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the first quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.