Intercontinental Exchange, Inc. (NYSE:ICE) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Free Report) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $167.80.

A number of equities research analysts have issued reports on ICE shares. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Citigroup upped their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th.

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Intercontinental Exchange Price Performance

ICE stock opened at $162.74 on Friday. The stock has a 50-day moving average price of $158.16 and a two-hundred day moving average price of $144.36. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $164.18. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market cap of $93.35 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange will post 6.04 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,316 shares of company stock valued at $9,835,609. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. Point72 Europe London LLP raised its position in shares of Intercontinental Exchange by 10.9% during the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after purchasing an additional 6,500 shares during the period. Perpetual Ltd raised its position in shares of Intercontinental Exchange by 0.4% during the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after purchasing an additional 6,272 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after purchasing an additional 122,169 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Intercontinental Exchange by 7.0% during the 1st quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after purchasing an additional 20,802 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

(Get Free Report

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.

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