Royal Bank of Canada Reiterates “Outperform” Rating for Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange (NYSE:ICE)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $200.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 36.45% from the company’s previous close.

ICE has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Bank of America increased their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised 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. Finally, TD Cowen assumed coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Price Performance

NYSE ICE traded down $0.01 on Tuesday, reaching $146.57. The company had a trading volume of 353,757 shares, compared to its average volume of 1,781,255. The stock has a market capitalization of $84.16 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average price is $155.33 and its 200 day moving average price is $155.21.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. As a group, equities analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,533 shares of company stock valued at $1,196,279. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wolff Wiese Magana LLC increased its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange in the third quarter worth $26,000. Financial Management Professionals Inc. raised its holdings in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new position in Intercontinental Exchange during the second quarter valued at $25,000. Finally, Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange during the 3rd quarter worth about $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.