Intercontinental Exchange (NYSE:ICE) Price Target Raised to $174.00 at Morgan Stanley

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

Other equities analysts have also recently issued reports about 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 research report on Thursday, October 3rd. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Barclays increased their target price on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $172.80.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $166.83 on Thursday. The firm has a market capitalization of $95.69 billion, a PE ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $160.55 and a 200 day moving average price of $146.26. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $167.23.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business posted $1.43 EPS. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange 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 owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,532 shares of company stock valued at $1,358,709. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth approximately $317,000. Fulton Bank N.A. increased its position in Intercontinental Exchange by 2.5% during the first quarter. Fulton Bank N.A. now owns 6,830 shares of the financial services provider’s stock worth $939,000 after buying an additional 168 shares during the last quarter. Wedmont Private Capital raised its holdings in Intercontinental Exchange by 2.1% during the first quarter. Wedmont Private Capital now owns 5,746 shares of the financial services provider’s stock valued at $776,000 after buying an additional 118 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Intercontinental Exchange by 7.1% in the first quarter. Park Avenue Securities LLC now owns 22,601 shares of the financial services provider’s stock worth $3,106,000 after buying an additional 1,494 shares during the last quarter. Finally, Marcum Wealth LLC boosted its stake in shares of Intercontinental Exchange by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 87 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

About Intercontinental Exchange

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.