Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE) had its target price decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $169.00 to $160.00 in a report issued on Friday, Benzinga reports. The brokerage presently 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 current price.

A number of other research firms also recently commented on ICE. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America lifted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their price target 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. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.48 during mid-day trading on Friday, hitting $155.39. 2,380,599 shares of the company’s stock 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 firm’s 50 day simple moving average is $162.09 and its 200 day simple moving average is $148.03. The company has a market cap of $89.22 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. Sell-side analysts expect that Intercontinental Exchange will post 6.13 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 in the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ICE. SpiderRock Advisors LLC raised its position in Intercontinental Exchange by 701.3% during the third quarter. SpiderRock Advisors LLC now owns 17,556 shares of the financial services provider’s stock worth $2,820,000 after acquiring an additional 15,365 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter valued at $859,000. Beckerman Institutional LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at $562,000. Fiera Capital Corp raised its position in shares of Intercontinental Exchange by 8.5% in the third quarter. Fiera Capital Corp now owns 29,056 shares of the financial services provider’s stock valued at $4,668,000 after purchasing an additional 2,268 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Intercontinental Exchange in the 3rd quarter valued at about $29,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

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.