Intercontinental Exchange (NYSE:ICE) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company began coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an “underweight” rating and a $159.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.86% from the stock’s current price.

Several other equities research analysts also recently issued reports on ICE. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group decreased their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $150.20 on Friday. Intercontinental Exchange has a 1 year low of $121.79 and a 1 year high of $176.05. The firm has a 50 day moving average price of $155.65 and a 200 day moving average price of $150.91. The company has a market cap of $84.32 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) 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. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange will post 8.12 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the sale, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Edmonds sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. The trade was a 25.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,179 shares of company stock valued at $6,473,715 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Several institutional investors have recently added to or reduced their stakes in the business. CX Institutional increased its stake in Intercontinental Exchange by 29.8% during the third quarter. CX Institutional now owns 5,059 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 1,162 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Intercontinental Exchange by 29.5% during the third quarter. Versant Capital Management Inc now owns 1,178 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 268 shares during the last quarter. Burkett Financial Services LLC bought a new position in shares of Intercontinental Exchange during the third quarter worth about $41,000. Hickory Point Bank & Trust grew its position in shares of Intercontinental Exchange by 44.4% during the third quarter. Hickory Point Bank & Trust now owns 325 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 100 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Intercontinental Exchange by 14.2% during the second quarter. QRG Capital Management Inc. now owns 21,465 shares of the financial services provider’s stock worth $2,643,000 after acquiring an additional 2,662 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.