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

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by Barclays from $187.00 to $179.00 in a research note issued to investors on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America increased their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Price Performance

NYSE ICE opened at $148.11 on Monday. The company has a market cap of $85.04 billion, a PE ratio of 35.10, a P/E/G ratio of 2.57 and a beta of 1.10. The firm’s 50 day moving average price is $153.62 and its 200-day moving average price is $155.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange has a 52-week low of $124.34 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results 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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. Sell-side analysts forecast that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ICE. State Street Corp grew its stake in shares of Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the period. Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares in the last quarter. FMR LLC boosted its holdings in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC grew its position in Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other 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.