Intercontinental Exchange (ICE) Given New $83.00 Price Target at Deutsche Bank

Intercontinental Exchange (NYSE:ICE) had its price target lowered by equities researchers at Deutsche Bank from $84.00 to $83.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank’s price target indicates a potential upside of 11.54% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Berenberg Bank cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 price target on the stock. in a research note on Tuesday, November 20th. Atlantic Securities assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, November 28th. They issued an “overweight” rating on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $85.50 price objective on shares of Intercontinental Exchange in a research note on Monday, February 11th. Wells Fargo & Co reiterated a “hold” rating on shares of Intercontinental Exchange in a research note on Thursday, February 7th. Finally, Goldman Sachs Group lowered shares of Intercontinental Exchange from a “conviction-buy” rating to a “buy” rating in a research note on Friday, January 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.55.

Shares of ICE traded up $0.52 during trading hours on Friday, reaching $74.41. The company had a trading volume of 2,205,854 shares, compared to its average volume of 3,025,483. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $42.01 billion, a PE ratio of 20.73, a P/E/G ratio of 2.01 and a beta of 0.48. Intercontinental Exchange has a 12-month low of $67.70 and a 12-month high of $82.65.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Intercontinental Exchange had a net margin of 31.68% and a return on equity of 12.23%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 EPS. On average, research analysts anticipate that Intercontinental Exchange will post 3.82 EPS for the current year.

In related news, General Counsel Andrew J. Surdykowski sold 2,500 shares of Intercontinental Exchange stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $75.42, for a total transaction of $188,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 92,502 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $74.33, for a total transaction of $6,875,673.66. Following the sale, the chief executive officer now owns 1,553,471 shares in the company, valued at $115,469,499.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,856 shares of company stock worth $14,693,582. Company insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ICE. American Century Companies Inc. grew its stake in shares of Intercontinental Exchange by 0.4% in the 4th quarter. American Century Companies Inc. now owns 2,847,797 shares of the financial services provider’s stock valued at $214,525,000 after buying an additional 9,941 shares in the last quarter. Norges Bank acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $379,351,000. Actinver Wealth Management Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $359,000. Teacher Retirement System of Texas lifted its holdings in shares of Intercontinental Exchange by 1.4% during the fourth quarter. Teacher Retirement System of Texas now owns 1,207,777 shares of the financial services provider’s stock worth $90,982,000 after buying an additional 16,502 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $218,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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