Intercontinental Exchange (NYSE:ICE) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a research report released on Friday, Benzinga reports. The brokerage currently has a $200.00 price objective on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Barclays raised their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an overweight rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods restated an outperform rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a hold rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an overweight rating in a research note on Monday, September 16th. Finally, Citigroup boosted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of Moderate Buy and a consensus target price of $167.80.

Intercontinental Exchange Stock Down 0.3 %

Shares of Intercontinental Exchange stock opened at $162.76 on Friday. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $164.18. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $158.16 and a two-hundred day moving average price of $144.48. The stock has a market capitalization of $93.36 billion, a P/E ratio of 37.33, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. Equities analysts expect that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the sale, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,921 shares of company stock worth $9,779,862. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently made changes to their positions in ICE. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter worth $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

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.