Intercontinental Exchange’s (ICE) “Buy” Rating Reaffirmed at Keefe, Bruyette & Woods
Several other research analysts have also recently weighed in on the company. Wells Fargo & Company raised their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the company a market perform rating in a research note on Thursday. Zacks Investment Research raised Intercontinental Exchange from a sell rating to a hold rating in a research note on Thursday. Barclays PLC started coverage on Intercontinental Exchange in a research note on Friday, September 8th. They set an overweight rating and a $72.00 target price for the company. Jefferies Group LLC reaffirmed a buy rating and set a $73.00 target price on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of Intercontinental Exchange in a report on Tuesday, August 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $69.28.
Intercontinental Exchange (NYSE:ICE) opened at 69.03 on Friday. The stock’s 50 day moving average price is $66.47 and its 200 day moving average price is $63.59. The firm has a market cap of $7.94 billion, a P/E ratio of 25.58 and a beta of 0.74. Intercontinental Exchange has a 1-year low of $52.27 and a 1-year high of $71.24.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange will post $2.95 EPS for the current year.
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In related news, CEO Jeffrey C. Sprecher sold 80,420 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total value of $5,246,600.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles A. Vice sold 12,500 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the completion of the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,050 shares of company stock valued at $9,522,455. 1.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ICE. Thompson Davis & CO. Inc. lifted its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 32 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Intercontinental Exchange by 10.8% in the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 18 shares in the last quarter. Norway Savings Bank lifted its stake in Intercontinental Exchange by 16.7% in the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 235 shares in the last quarter. Bessemer Group Inc. lifted its stake in Intercontinental Exchange by 186.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Intercontinental Exchange in the 2nd quarter worth about $128,000. 89.75% of the stock is owned by hedge funds and other institutional investors.
Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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