Analysts at Citigroup Inc. began coverage on shares of Intercontinental Exchange Inc. (NYSE:ICE) in a note issued to investors on Wednesday, July 12th, Marketbeat.com reports. The brokerage set a “neutral” rating and a $67.00 price target on the financial services provider’s stock. Citigroup Inc.’s target price suggests a potential upside of 0.63% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and set a $70.00 target price on shares of Intercontinental Exchange in a report on Monday, June 26th. Royal Bank Of Canada set a $65.00 target price on Intercontinental Exchange and gave the company a “hold” rating in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $65.50 target price on shares of Intercontinental Exchange in a report on Wednesday, April 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and a consensus target price of $67.49.
Intercontinental Exchange (NYSE ICE) traded up 1.12% during midday trading on Wednesday, hitting $66.58. The stock had a trading volume of 2,283,550 shares. The company has a market capitalization of $7.66 billion, a PE ratio of 25.71 and a beta of 0.71. The company’s 50-day moving average price is $64.71 and its 200 day moving average price is $60.50. Intercontinental Exchange has a 52 week low of $52.22 and a 52 week high of $67.33.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Intercontinental Exchange had a return on equity of 10.67% and a net margin of 26.48%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $3.68 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts expect that Intercontinental Exchange will post $3.01 EPS for the current year.
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In other news, insider Charles A. Vice sold 15,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $60.53, for a total transaction of $907,950.00. Following the transaction, the insider now owns 373,061 shares in the company, valued at approximately $22,581,382.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,150 shares of Intercontinental Exchange stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $59.94, for a total transaction of $68,931.00. The disclosure for this sale can be found here. Insiders have sold a total of 168,889 shares of company stock worth $10,350,825 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Norway Savings Bank boosted its position in Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after buying an additional 235 shares during the period. Guardian Life Insurance Co. of America boosted its position in Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock worth $138,000 after buying an additional 16 shares during the period. Clearbridge Investments LLC boosted its position in Intercontinental Exchange by 117.0% in the first quarter. Clearbridge Investments LLC now owns 2,346 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,265 shares during the period. Parallel Advisors LLC boosted its position in Intercontinental Exchange by 45.3% in the first quarter. Parallel Advisors LLC now owns 2,400 shares of the financial services provider’s stock worth $145,000 after buying an additional 748 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in Intercontinental Exchange during the first quarter worth $182,000. Institutional investors own 89.44% of the company’s stock.
About Intercontinental Exchange
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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