Raymond James Raises Intercontinental Exchange (NYSE:ICE) Price Target to $185.00

by · The Cerbat Gem

Intercontinental Exchange (NYSE:ICE – Free Report) had its target price raised by Raymond James from $174.00 to $185.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Citigroup lifted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Bank of America increased their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a buy rating in a research note on Thursday. The Goldman Sachs Group raised their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a buy rating in a research report on Thursday. Royal Bank of Canada reiterated an outperform rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday. Finally, Barclays raised their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an overweight rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of Moderate Buy and a consensus target price of $167.80.

Read Our Latest Stock Report on ICE

Intercontinental Exchange Price Performance

Shares of NYSE:ICE 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 current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $93.36 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a 50 day moving average of $158.16 and a 200 day moving average of $144.48.

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

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,921 shares of company stock worth $9,779,862. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake 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 valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Intercontinental Exchange by 303.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after acquiring an additional 1,790,493 shares in the last quarter. CCLA Investment Management lifted its stake in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after purchasing an additional 1,113,079 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $124,508,000. Institutional investors 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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