Intercontinental Exchange (NYSE:ICE) PT Raised to $134.00 at Jefferies Financial Group

Intercontinental Exchange (NYSE:ICE) had its price objective raised by investment analysts at Jefferies Financial Group from $129.00 to $134.00 in a report issued on Tuesday, FlyOnTheWall reports. Jefferies Financial Group’s price target would suggest a potential upside of 15.63% from the stock’s previous close.

Several other research firms have also recently weighed in on ICE. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $125.00 to $126.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $125.00 to $135.00 in a research note on Wednesday, July 5th. UBS Group boosted their price target on shares of Intercontinental Exchange from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Citigroup upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $130.00 in a research report on Friday, August 4th. Finally, StockNews.com started coverage on shares of Intercontinental Exchange in a report on Thursday, August 17th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $133.09.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $115.89 on Tuesday. Intercontinental Exchange has a 1-year low of $88.60 and a 1-year high of $118.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $64.93 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. The firm’s 50 day simple moving average is $115.40 and its 200 day simple moving average is $109.62.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.43, for a total value of $57,715.00. Following the completion of the sale, the chief financial officer now owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $115.43, for a total value of $57,715.00. Following the transaction, the chief financial officer now directly owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 496 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $113.56, for a total value of $56,325.76. Following the sale, the director now directly owns 2,878 shares of the company’s stock, valued at approximately $326,825.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,563 shares of company stock valued at $1,218,379. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently modified their holdings of ICE. Bank Julius Baer & Co. Ltd Zurich raised its position in Intercontinental Exchange by 91,224.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 92,329,444 shares of the financial services provider’s stock valued at $10,440,613,000 after purchasing an additional 92,228,344 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Intercontinental Exchange by 1.3% during the second quarter. BlackRock Inc. now owns 42,188,650 shares of the financial services provider’s stock valued at $4,770,693,000 after acquiring an additional 525,322 shares in the last quarter. Morgan Stanley raised its holdings in shares of Intercontinental Exchange by 18.9% during the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after acquiring an additional 4,044,744 shares in the last quarter. State Street Corp lifted its stake in Intercontinental Exchange by 2.2% in the second quarter. State Street Corp now owns 22,796,474 shares of the financial services provider’s stock worth $2,577,825,000 after acquiring an additional 480,742 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Intercontinental Exchange by 45.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after acquiring an additional 5,354,161 shares in the last quarter. Hedge funds and other institutional investors own 87.91% 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.