Intercontinental Exchange (NYSE:ICE) Stock Picked Up by Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Intercontinental Exchange (NYSE:ICE – Get Free Report) in a research report issued on Friday, MarketBeat reports. The firm set a “strong sell” rating and a $159.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.86% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Barclays reaffirmed an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Raymond James Financial restated a “strong-buy” rating and set a $218.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group reduced their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

View Our Latest Analysis on ICE

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE:ICE opened at $150.20 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $84.32 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.47 and a beta of 0.94. Intercontinental Exchange has a 52-week low of $121.79 and a 52-week high of $176.05. The stock’s fifty day simple moving average is $155.65 and its 200-day simple moving average is $150.98.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. As a group, equities research analysts forecast that Intercontinental Exchange will post 8.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 1,340 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the completion of the transaction, the director directly owned 3,747 shares in the company, valued at approximately $603,866.52. This represents a 26.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 12,862 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the sale, the president owned 164,264 shares of the company’s stock, valued at approximately $26,297,023.76. This trade represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 41,179 shares of company stock worth $6,473,715. Insiders own 0.84% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently bought and sold shares of ICE. Rakuten Securities Inc. acquired a new position in Intercontinental Exchange in the second quarter worth $26,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange in the 4th quarter worth about $28,000. Gables Capital Management Inc. bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $31,000. Fiduciary Financial Advisors acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $33,000. Finally, Clearstead Trust LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

(Get Free Report)

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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