Keefe, Bruyette & Woods Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $178.00

Intercontinental Exchange (NYSE:ICE) had its price objective reduced by Keefe, Bruyette & Woods from $183.00 to $178.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

ICE has been the topic of a number of other reports. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays dropped their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $148.11 on Monday. The firm has a market cap of $85.04 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day simple moving average is $153.62 and its 200-day simple moving average is $155.53.

Intercontinental Exchange (NYSE:ICE) last released 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 net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares of the company’s stock, valued at $6,977,088.16. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. boosted its position in Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. raised its holdings in Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 63 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 70 shares during the last quarter. Finally, Catalina Capital Group LLC raised its holdings in Intercontinental Exchange by 3.9% during the 3rd quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 70 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.