Intercontinental Exchange Inc. (ICE) Given Consensus Recommendation of “Buy” by Brokerages
Intercontinental Exchange Inc. (NYSE:ICE) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $68.64.
Several research firms have recently weighed in on ICE. BidaskClub downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada upgraded Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $73.00 target price (up previously from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Finally, Barclays PLC began coverage on Intercontinental Exchange in a research report on Friday. They issued an “overweight” rating and a $72.00 target price on the stock.
In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange 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 $25,598,784.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total value of $5,246,600.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,920 shares of company stock worth $8,183,176. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 2.1% during the second quarter. Vanguard Group Inc. now owns 40,162,938 shares of the financial services provider’s stock worth $2,647,541,000 after acquiring an additional 844,270 shares during the last quarter. BlackRock Inc. increased its stake in Intercontinental Exchange by 1.1% during the second quarter. BlackRock Inc. now owns 35,446,221 shares of the financial services provider’s stock worth $2,336,613,000 after acquiring an additional 396,042 shares during the last quarter. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 2.8% during the first quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock worth $1,605,588,000 after acquiring an additional 721,080 shares during the last quarter. State Street Corp increased its stake in Intercontinental Exchange by 1.9% during the first quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock worth $1,535,555,000 after acquiring an additional 481,909 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Intercontinental Exchange by 19.9% during the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock worth $748,538,000 after acquiring an additional 1,883,432 shares during the last quarter. 89.74% of the stock is owned by institutional investors.
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Intercontinental Exchange (ICE) traded up 1.62% during mid-day trading on Friday, reaching $65.34. The company’s stock had a trading volume of 1,927,247 shares. The company has a market cap of $7.52 billion, a PE ratio of 24.21 and a beta of 0.72. The firm’s 50 day moving average is $65.48 and its 200-day moving average is $62.40. Intercontinental Exchange has a 12-month low of $52.27 and a 12-month high of $67.48.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $1.18 billion for 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 business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Equities analysts anticipate that Intercontinental Exchange will post $2.94 earnings per share for the current fiscal year.
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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