Jefferies Group Raises IntercontinentalExchange Group Inc. (ICE) Price Target to $310.00
IntercontinentalExchange Group Inc. (NYSE:ICE) had its price objective upped by stock analysts at Jefferies Group from $295.00 to $310.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price target points to a potential upside of 15.50% from the stock’s current price.
Several other research analysts have also recently issued reports on ICE. Zacks Investment Research upgraded shares of IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Deutsche Bank AG increased their price objective on shares of IntercontinentalExchange Group from $295.00 to $304.00 and gave the company a “buy” rating in a report on Thursday, August 4th. RBC Capital Markets reiterated a “sector perform” rating and issued a $282.00 price objective (up from $255.00) on shares of IntercontinentalExchange Group in a report on Thursday, August 4th. Royal Bank Of Canada increased their price objective on shares of IntercontinentalExchange Group from $255.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, August 4th. Finally, Barclays PLC increased their price objective on shares of IntercontinentalExchange Group from $295.00 to $307.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $297.33.
Shares of IntercontinentalExchange Group (NYSE:ICE) traded down 1.15% on Tuesday, reaching $265.31. The company’s stock had a trading volume of 403,217 shares. The stock has a market capitalization of $30.52 billion, a PE ratio of 21.89 and a beta of 0.92. IntercontinentalExchange Group has a 1-year low of $227.22 and a 1-year high of $287.02. The stock has a 50-day moving average of $277.39 and a 200 day moving average of $262.01.
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IntercontinentalExchange Group (NYSE:ICE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.38 by $0.05. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $2.90 earnings per share. IntercontinentalExchange Group’s revenue was up 41.7% compared to the same quarter last year. On average, equities analysts forecast that IntercontinentalExchange Group will post $13.80 EPS for the current year.
In other IntercontinentalExchange Group news, insider Charles A. Vice sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $278.79, for a total value of $557,580.00. Following the completion of the sale, the insider now owns 61,983 shares in the company, valued at approximately $17,280,240.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas W. Farley sold 1,900 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $283.03, for a total transaction of $537,757.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ICE. D. Scott Neal Inc. increased its stake in IntercontinentalExchange Group by 100.0% in the second quarter. D. Scott Neal Inc. now owns 400 shares of the company’s stock worth $102,000 after buying an additional 200 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in IntercontinentalExchange Group during the second quarter worth about $102,000. LSV Asset Management bought a new stake in IntercontinentalExchange Group during the second quarter worth about $116,000. Johnson Financial Group Inc. increased its stake in IntercontinentalExchange Group by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock worth $120,000 after buying an additional 324 shares during the last quarter. Finally, Invictus RG increased its stake in IntercontinentalExchange Group by 2,695.5% in the first quarter. Invictus RG now owns 615 shares of the company’s stock worth $145,000 after buying an additional 593 shares during the last quarter. Institutional investors own 90.04% of the company’s stock.
About IntercontinentalExchange Group
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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