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

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

Other equities analysts have also recently issued research reports about the stock. Barclays boosted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an overweight rating in a research report on Monday, September 16th. StockNews.com downgraded Intercontinental Exchange from a hold rating to a sell rating in a research report on Friday, September 6th. The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a buy rating in a report on Thursday. Finally, TD Cowen assumed coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a buy rating and a $182.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $167.80.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $162.76 on Thursday. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $164.18. The stock has a fifty day moving average of $158.16 and a 200 day moving average of $144.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $93.36 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 2.81 and a beta of 1.08.

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

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were 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 of the company’s stock, valued at $9,098,792.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,316 shares of company stock worth $9,835,609. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently made changes to their positions in ICE. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 35.0% in 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 acquiring an additional 4,251,371 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after purchasing an additional 1,790,493 shares in the last quarter. CCLA Investment Management increased its position in shares of Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after buying an additional 1,113,079 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in Intercontinental Exchange in the second quarter worth about $124,508,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

About Intercontinental Exchange

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.