Wells Fargo & Company Boosts Intercontinental Exchange Inc. (ICE) Price Target to $73.00
Intercontinental Exchange Inc. (NYSE:ICE) had its price objective upped by research analysts at Wells Fargo & Company from $65.00 to $73.00 in a research report issued on Thursday. The firm presently has a “market perform” rating on the financial services provider’s stock. Wells Fargo & Company’s price target would indicate a potential upside of 3.60% from the company’s current price.
A number of other equities research analysts also recently weighed in on ICE. BidaskClub upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC restated a “buy” rating and set a $70.00 target price on shares of Intercontinental Exchange in a research report on Monday, June 26th. Citigroup Inc. started coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 target price for the company. Royal Bank Of Canada upgraded Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $70.00 in a research report on Thursday, July 13th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Thursday, July 13th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $69.28.
Intercontinental Exchange (ICE) traded up 0.77% on Thursday, reaching $71.00. The company had a trading volume of 1,193,909 shares. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 26.31 and a beta of 0.74. Intercontinental Exchange has a 12 month low of $52.27 and a 12 month high of $71.06. The company’s 50 day moving average price is $66.22 and its 200-day moving average price is $63.48.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, equities analysts predict that Intercontinental Exchange will post $2.94 earnings per share for the current fiscal year.
In other Intercontinental Exchange news, 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 in the company, valued at $25,598,784.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold 105,420 shares of company stock valued at $6,887,226 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Park National Corp OH increased its holdings in shares of Intercontinental Exchange by 48.1% in the third quarter. Park National Corp OH now owns 95,016 shares of the financial services provider’s stock worth $6,527,000 after acquiring an additional 30,843 shares in the last quarter. WFG Advisors LP boosted its position in shares of Intercontinental Exchange by 10.1% during the second quarter. WFG Advisors LP now owns 11,699 shares of the financial services provider’s stock worth $771,000 after buying an additional 1,075 shares during the period. Toronto Dominion Bank boosted its position in shares of Intercontinental Exchange by 25.4% during the second quarter. Toronto Dominion Bank now owns 201,609 shares of the financial services provider’s stock worth $13,287,000 after buying an additional 40,863 shares during the period. Cetera Investment Advisers acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $219,000. Finally, Advisory Services Network LLC boosted its position in shares of Intercontinental Exchange by 0.5% during the second quarter. Advisory Services Network LLC now owns 15,419 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 76 shares during the period. Institutional investors own 89.75% of the company’s stock.
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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