Barclays Issues Pessimistic Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its price target reduced by research analysts at Barclays from $187.00 to $179.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 23.34% from the company’s current price.

A number of other brokerages have also commented on ICE. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Bank of America increased their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their price objective 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 upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.20.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $145.13 on Monday. The stock has a market capitalization of $83.33 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 1 year low of $124.34 and a 1 year high of $167.99. The firm has a 50 day moving average of $153.62 and a 200-day moving average of $155.53.

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, meeting the consensus estimate of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 12,780 shares in the company, valued at $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 in the last ninety days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairscale Capital LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.