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

Intercontinental Exchange (NYSE:ICE) had its price objective hoisted by The Goldman Sachs Group from $171.00 to $185.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on ICE. 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. Royal Bank of Canada initiated coverage on shares of Intercontinental Exchange in a research report on Friday, September 27th. They issued an outperform rating and a $200.00 price objective for the company. Keefe, Bruyette & Woods reiterated an outperform rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. StockNews.com cut shares of Intercontinental Exchange from a hold rating to a sell rating in a research note on Friday, September 6th. Finally, 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 report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $167.80.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $162.76 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market cap of $93.36 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $164.18. The company’s 50-day moving average price is $158.16 and its two-hundred day moving average price is $144.42.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $1.43 EPS. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,316 shares of company stock worth $9,835,609. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. Annapolis Financial Services LLC lifted its position in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. 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.