Intercontinental Exchange Inc. (NYSE:ICE) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday, June 13th.
Several other analysts have also recently commented on ICE. Royal Bank Of Canada set a $65.00 price objective on shares of Intercontinental Exchange and gave the company a “hold” rating in a research note on Tuesday, June 6th. Deutsche Bank AG restated a “buy” rating and set a $66.00 price objective (down from $67.00) on shares of Intercontinental Exchange in a research note on Monday, May 15th. Keefe, Bruyette & Woods restated a “buy” rating and set a $65.50 price objective on shares of Intercontinental Exchange in a research note on Wednesday, April 12th. Jefferies Group LLC restated a “buy” rating and set a $70.00 price objective on shares of Intercontinental Exchange in a research note on Monday, April 10th. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.15.
Shares of Intercontinental Exchange (ICE) traded down 0.39% on Tuesday, hitting $64.52. 1,751,130 shares of the stock traded hands. Intercontinental Exchange has a 52 week low of $48.15 and a 52 week high of $65.00. The stock has a 50-day moving average price of $61.00 and a 200 day moving average price of $59.31. The firm has a market cap of $7.42 billion, a P/E ratio of 24.91 and a beta of 0.77.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Intercontinental Exchange had a net margin of 26.48% and a return on equity of 10.67%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $3.68 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange will post $2.99 EPS for the current fiscal year.
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In related news, Director Jean Marc Forneri sold 6,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $58.27, for a total value of $349,620.00. Following the completion of the sale, the director now owns 47,350 shares of the company’s stock, valued at approximately $2,759,084.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the insider now directly owns 384,971 shares of the company’s stock, valued at approximately $22,797,982.62. The disclosure for this sale can be found here. In the last three months, insiders sold 183,089 shares of company stock valued at $10,990,583. 1.50% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in ICE. Clearbridge Investments LLC raised its stake in Intercontinental Exchange by 117.0% in the first quarter. Clearbridge Investments LLC now owns 2,346 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,265 shares during the last quarter. PHH Investments Ltd. raised its stake in Intercontinental Exchange by 1.6% in the first quarter. PHH Investments Ltd. now owns 21,935 shares of the financial services provider’s stock worth $1,313,000 after buying an additional 335 shares during the last quarter. Piedmont Investment Advisors LLC raised its stake in Intercontinental Exchange by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 124,850 shares of the financial services provider’s stock worth $7,475,000 after buying an additional 1,079 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Intercontinental Exchange during the first quarter worth about $5,859,000. Finally, Bank of Nova Scotia raised its stake in Intercontinental Exchange by 121.7% in the first quarter. Bank of Nova Scotia now owns 29,476 shares of the financial services provider’s stock worth $1,765,000 after buying an additional 16,181 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.
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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