Citigroup Raises Intercontinental Exchange (NYSE:ICE) Price Target to $162.00

Intercontinental Exchange (NYSE:ICE) had its price target raised by Citigroup from $160.00 to $162.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on ICE. Morgan Stanley boosted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Argus reissued a buy rating and issued a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. The Goldman Sachs Group upgraded Intercontinental Exchange from a neutral rating to a buy rating and boosted their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Keefe, Bruyette & Woods dropped their price target on Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating on the stock in a research report on Friday, May 3rd. Finally, Bank of America dropped their price target on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research report on Friday, April 19th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of Moderate Buy and an average price target of $152.07.

Intercontinental Exchange Stock Up 1.9 %

Shares of NYSE ICE opened at $147.15 on Tuesday. The company has a market capitalization of $84.40 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $136.54 and a two-hundred day moving average of $133.90. Intercontinental Exchange has a 1 year low of $104.49 and a 1 year high of $147.32.

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

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the 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 transaction, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,290 shares of company stock valued at $8,937,674. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares in the last quarter. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 35.0% in the 4th 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. D.A. Davidson & CO. increased its holdings in Intercontinental Exchange by 8.5% in the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after purchasing an additional 1,991 shares in the last quarter. Point72 Europe London LLP increased its holdings in Intercontinental Exchange by 10.9% in the 4th 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. Finally, Perpetual Ltd increased its holdings in Intercontinental Exchange by 0.4% in the 1st 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. 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.