The Goldman Sachs Group Increases Intercontinental Exchange (NYSE:ICE) Price Target to $185.00

Intercontinental Exchange (NYSE:ICE) had its price objective boosted by research analysts at The Goldman Sachs Group from $171.00 to $185.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 13.68% from the stock’s previous close.

ICE has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Barclays upped their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Citigroup upped their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $167.80.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $162.74 on Thursday. The firm has a fifty day simple moving average of $158.16 and a 200-day simple moving average of $144.36. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $164.18. The stock has a market capitalization of $93.35 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company earned $1.43 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insider Activity

In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,316 shares of company stock worth $9,835,609. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth about $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the last quarter. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. Institutional investors 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.