Intercontinental Exchange Inc. (NYSE:ICE)‘s stock had its “buy” rating restated by Keefe, Bruyette & Woods in a note issued to investors on Sunday, October 8th. They presently have a $73.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 10.41% from the company’s current price.
A number of other research analysts have also recently issued reports on ICE. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Thursday, July 13th. BidaskClub upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Wells Fargo & Company boosted their price target on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $72.33.
Intercontinental Exchange (NYSE ICE) opened at 66.12 on Friday. The firm’s 50-day moving average is $67.52 and its 200 day moving average is $64.22. Intercontinental Exchange has a 12 month low of $52.27 and a 12 month high of $71.24. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 24.50 and a beta of 0.74.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $0.69 earnings per share. Intercontinental Exchange’s revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange will post $2.95 earnings per share for the current year.
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In other Intercontinental Exchange news, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total value of $836,625.00. Following the completion of the transaction, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,550 shares of company stock worth $10,394,455. 1.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ICE. Thompson Davis & CO. Inc. increased its holdings in shares of Intercontinental Exchange by 2.2% during the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 32 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of Intercontinental Exchange by 10.8% during the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 18 shares in the last quarter. Norway Savings Bank increased its holdings in shares of Intercontinental Exchange by 16.7% during the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 235 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Intercontinental Exchange by 186.5% during the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $128,000. 89.62% of the stock is currently 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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