Intercontinental Exchange (NYSE:ICE) Given New $160.00 Price Target at Deutsche Bank Aktiengesellschaft

by · The Markets Daily

Intercontinental Exchange (NYSE:ICE – Get Free Report) had its price target cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $169.00 to $160.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 2.97% from the company’s previous close.

Other research analysts have also issued research reports about the stock. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. 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 research note on Monday, October 14th. Barclays lowered their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

View Our Latest Stock Analysis on ICE

Intercontinental Exchange Stock Performance

Shares of ICE traded down $0.48 during trading hours on Friday, reaching $155.39. 2,380,599 shares of the company traded hands, compared to its average volume of 2,536,438. Intercontinental Exchange has a 1-year low of $104.91 and a 1-year high of $167.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $89.22 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. The stock’s fifty day moving average is $162.09 and its 200 day moving average is $148.03.

Intercontinental Exchange (NYSE:ICE – Get Free Report) 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 12.70% and a net margin of 21.43%. 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. Equities research analysts anticipate that Intercontinental Exchange will post 6.13 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, 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. Over the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Intercontinental Exchange by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after purchasing an additional 20,802 shares during the last quarter. Mission Wealth Management LP purchased a new position in Intercontinental Exchange during the 1st quarter worth approximately $866,000. UniSuper Management Pty Ltd lifted its stake in Intercontinental Exchange by 200.2% in the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock valued at $1,987,000 after buying an additional 9,642 shares during the last quarter. Finally, BDF Gestion purchased a new position in shares of Intercontinental Exchange during the second quarter worth approximately $2,849,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Exchange

(Get Free Report)

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.

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