Barclays PLC Begins Coverage on Intercontinental Exchange Inc. (ICE)
Stock analysts at Barclays PLC started coverage on shares of Intercontinental Exchange Inc. (NYSE:ICE) in a research note issued to investors on Friday, MarketBeat reports. The firm set an “overweight” rating and a $72.00 price target on the financial services provider’s stock. Barclays PLC’s target price indicates a potential upside of 10.19% from the stock’s previous close.
Several other research firms also recently commented on ICE. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Citigroup Inc. initiated coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Finally, Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.81.
Intercontinental Exchange (NYSE ICE) traded up 1.62% during mid-day trading on Friday, reaching $65.34. The company had a trading volume of 1,927,247 shares. The firm’s 50 day moving average price is $65.48 and its 200-day moving average price is $62.40. Intercontinental Exchange has a 12 month low of $52.27 and a 12 month high of $67.48. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 24.21 and a beta of 0.72.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Equities research analysts anticipate that Intercontinental Exchange will post $2.94 earnings per share for the current year.
In other Intercontinental Exchange news, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total transaction of $836,625.00. Following the transaction, the insider now owns 382,471 shares in the company, valued at approximately $25,598,784.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott A. Hill sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $65.00, for a total value of $1,105,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 124,920 shares of company stock worth $8,183,176 in the last quarter. 1.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. increased its position in Intercontinental Exchange by 2.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 32 shares during the period. IHT Wealth Management LLC increased its position in Intercontinental Exchange by 10.8% during the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 18 shares during the period. Norway Savings Bank increased its position in Intercontinental Exchange by 16.7% during the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 235 shares during the period. Bessemer Group Inc. increased its position in Intercontinental Exchange by 186.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,240 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $128,000. Institutional investors own 89.74% 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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