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Intercontinental Exchange (NYSE:ICE) price target raised to $159.00 by Barclays analysts

Intercontinental Exchange (NYSE:ICE) price target raised to 9.00 by Barclays analysts


Intercontinental Exchange (NYSE:ICE – Free Report) Barclays Inc. raised its price target from $150.00 to $159.00 in a research note released Wednesday, Benzinga reports. They currently have an overweight rating on the financial services company’s stock.

Several other research firms have also commented on ICE recently. Bank of America lowered their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an overweight rating in a report on Friday, May 3rd. The Goldman Sachs Group raised shares of Intercontinental Exchange from a neutral rating to a buy rating and raised their price target on the stock from $143.00 to $167.00 in a report on Monday, July 1st. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the stock in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given the company a strong buy rating. Intercontinental Exchange currently has an average rating of Moderate Buy and an average price target of $152.07 according to MarketBeat.

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Intercontinental stock market development

NYSE ICE opened at $144.40 on Wednesday. The company has a market cap of $82.83 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $144.47. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The company’s 50-day simple moving average is $136.13 and its 200-day simple moving average is $133.81.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings results on Thursday, May 2. The financial services company reported $1.48 EPS for the quarter, which met the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company’s revenue increased 20.8% compared to the year-ago quarter. In the same period last year, the company earned $1.41 EPS. Research analysts predict that Intercontinental Exchange will post 5.96 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, majority owner Intercontinental Exchange, Inc. bought 350,880 shares of Intercontinental Exchange stock in a transaction on Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a filing with the SEC, available at this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc. purchased 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the acquisition, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders have sold 63,290 shares of the company’s stock in the last ninety days for $8,937,674. Insiders own 1.10% of the company’s stock.

Institutional inflow and outflow

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Capital World Investors increased its holdings in Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC increased its holdings in shares of Intercontinental Exchange by 23.8% in the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after purchasing an additional 1,621,737 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $839,259,000. Institutional investors own 89.30% of the company’s stock.

Company Profile Intercontinental Exchange

(Get free report)

Intercontinental Exchange, Inc., together with its subsidiaries, provides market infrastructure, data services and technology solutions to financial institutions, corporations and government agencies in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel and Canada.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)



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