Intercontinental Exchange (NYSE:ICE) Given New $178.00 Price Target at Keefe, Bruyette & Woods

Intercontinental Exchange (NYSE:ICE) had its price target decreased by Keefe, Bruyette & Woods from $183.00 to $178.00 in a research note released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on ICE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. Finally, Barclays lowered their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.20.

Intercontinental Exchange Price Performance

Shares of ICE opened at $143.84 on Monday. 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 has a market capitalization of $82.59 billion, a PE ratio of 34.09, a P/E/G ratio of 2.57 and a beta of 1.10. The stock has a 50 day simple moving average of $153.88 and a 200 day simple moving average of $155.47. Intercontinental Exchange has a 52-week low of $124.34 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Sell-side analysts predict that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,533 shares of company stock valued at $1,196,279 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ICE. M&T Bank Corp increased its position in Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after buying an additional 11,648 shares during the period. Toronto Dominion Bank grew its stake in Intercontinental Exchange by 1.6% during the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after buying an additional 4,973 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $14,880,000. GDS Wealth Management lifted its holdings in shares of Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after acquiring an additional 5,226 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Intercontinental Exchange by 6.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider’s stock worth $27,192,000 after acquiring an additional 10,399 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

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.