Intercontinental Exchange (NYSE:ICE) Price Target Increased to $174.00 by Analysts at Morgan Stanley

Intercontinental Exchange (NYSE:ICE) had its target price increased by Morgan Stanley from $160.00 to $174.00 in a report issued on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the company. Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, October 4th. Citigroup boosted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.80.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $164.80 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange has a one year low of $104.49 and a one year high of $167.23. The company has a market capitalization of $94.53 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The stock has a fifty day moving average of $160.30 and a 200-day moving average of $145.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange will post 6.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction 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 approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now owns 26,908 shares in the company, valued at $4,323,846.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,532 shares of company stock valued at $1,358,709 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 4.3% in the third quarter. Stratos Wealth Advisors LLC now owns 3,536 shares of the financial services provider’s stock worth $568,000 after acquiring an additional 145 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Intercontinental Exchange by 0.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 35,716 shares of the financial services provider’s stock worth $5,738,000 after purchasing an additional 288 shares during the last quarter. Aspiriant LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $228,000. Aaron Wealth Advisors LLC raised its position in shares of Intercontinental Exchange by 9.1% during the third quarter. Aaron Wealth Advisors LLC now owns 2,807 shares of the financial services provider’s stock valued at $451,000 after buying an additional 235 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its position in shares of Intercontinental Exchange by 19.1% during the third quarter. Stonegate Investment Group LLC now owns 4,388 shares of the financial services provider’s stock valued at $705,000 after buying an additional 704 shares during 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.