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

Intercontinental Exchange (NYSE:ICE) had its price target boosted by investment analysts at Barclays from $173.00 to $187.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 18.03% from the company’s previous close.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Stock Up 1.5 %

ICE opened at $158.44 on Monday. The company has a market capitalization of $90.97 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. The firm has a 50-day simple moving average of $160.29 and a two-hundred day simple moving average of $152.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 52 week low of $113.87 and a 52 week high of $167.99.

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

Insider Activity

In other news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,946 shares of company stock valued at $1,433,486. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of the business. Quintet Private Bank Europe S.A. lifted its position in shares of Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 62 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Intercontinental Exchange by 26.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 63 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares in the last quarter. American National Bank grew its holdings in shares of Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after buying an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of Intercontinental Exchange by 6.2% in the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after buying an additional 70 shares during the last quarter. Institutional investors 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.