UBS Group Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $200.00

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by UBS Group from $215.00 to $200.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a buy rating on the financial services provider’s stock.

Several other research firms have also weighed in on ICE. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $191.82.

Intercontinental Exchange Stock Performance

ICE stock opened at $146.10 on Friday. The stock has a 50-day moving average price of $165.55 and a 200-day moving average price of $173.61. Intercontinental Exchange has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $83.63 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $28,000. Activest Wealth Management increased its holdings in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $29,000. McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Private Wealth Management Group LLC increased its holdings in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. 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.