TD Cowen Issues Positive Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

by · The Cerbat Gem

Intercontinental Exchange (NYSE:ICE – Get Free Report) had its price objective boosted by equities research analysts at TD Cowen from $175.00 to $193.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 13.06% from the company’s previous close.

ICE has been the topic of several other reports. Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, Morgan Stanley reissued a “positive” rating and issued a $174.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $192.90.

View Our Latest Stock Report on Intercontinental Exchange

Intercontinental Exchange Stock Performance

Shares of ICE traded up $4.02 during trading hours on Wednesday, hitting $170.71. The stock had a trading volume of 1,604,327 shares, compared to its average volume of 2,818,534. Intercontinental Exchange has a 12 month low of $143.17 and a 12 month high of $189.35. The firm has a market capitalization of $97.34 billion, a PE ratio of 31.07, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $158.26 and a 200 day moving average price of $167.56.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange will post 6.73 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total value of $584,452.00. Following the transaction, the director owned 14,469 shares of the company’s stock, valued at $2,285,523.24. This represents a 20.36% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 166,068 shares of company stock valued at $25,470,702. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in ICE. Vanguard Group Inc. grew its position in Intercontinental Exchange by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after acquiring an additional 745,135 shares during the last quarter. State Street Corp boosted its stake in shares of Intercontinental Exchange by 0.8% during the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after purchasing an additional 194,325 shares during the period. Geode Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 1.2% in the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after purchasing an additional 145,961 shares during the last quarter. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the period. Finally, Norges Bank bought a new stake in Intercontinental Exchange during the 2nd quarter valued at about $1,542,780,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

About Intercontinental Exchange

(Get Free Report)

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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