Intercontinental Exchange Inc. (ICE) Receives Consensus Rating of “Buy” from Brokerages
Shares of Intercontinental Exchange Inc. (NYSE:ICE) have been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $72.13.
A number of equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Thursday, July 13th. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $65.00 to $70.00 in a report on Thursday, July 13th. Citigroup Inc. lifted their price target on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Finally, Barclays PLC lifted their price target on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th.
Intercontinental Exchange (NYSE:ICE) traded down 0.20% during mid-day trading on Friday, reaching $65.48. 5,242,764 shares of the company were exchanged. The stock has a 50 day moving average of $67.53 and a 200-day moving average of $64.42. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 24.26 and a beta of 0.74. Intercontinental Exchange has a one year low of $52.27 and a one year high of $71.24.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, equities analysts expect that Intercontinental Exchange will post $2.95 earnings per share for the current fiscal year.
In other news, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total value of $836,625.00. Following the transaction, the insider now owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. Insiders have sold 155,550 shares of company stock worth $10,394,455 in the last ninety days. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ICE. Thompson Davis & CO. Inc. lifted its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after buying an additional 32 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 10.8% in the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after buying an additional 18 shares in the last quarter. Norway Savings Bank lifted its holdings in shares of Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Intercontinental Exchange in the second quarter worth $128,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.
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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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