Barclays Forecasts Strong Price Appreciation for Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange (NYSE:ICE) had its price target increased by analysts at Barclays from $173.00 to $187.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 19.93% from the stock’s current price.

Several other equities research analysts also recently weighed in on ICE. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America upped their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, November 1st. Piper Sandler boosted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.07.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $155.93 on Monday. The firm’s 50 day moving average is $160.38 and its two-hundred day moving average is $152.75. The firm has a market capitalization of $89.53 billion, a P/E ratio of 36.95, a PEG ratio of 2.58 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 52 week low of $111.82 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other 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 directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,946 shares of company stock worth $1,433,486 in the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in 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 during the last quarter. Blue Trust Inc. raised its stake in shares of Intercontinental Exchange by 312.4% during the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 3,924 shares in the last quarter. GDS Wealth Management lifted its holdings in shares of Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock valued at $16,612,000 after buying an additional 5,226 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $873,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Intercontinental Exchange by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock valued at $504,746,000 after buying an additional 21,615 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.