Raymond James Raises Intercontinental Exchange (ICE) Price Target to $86.00

Intercontinental Exchange (NYSE:ICE) had its price objective raised by Raymond James from $81.00 to $86.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective points to a potential upside of 12.46% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ICE. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “buy” rating and set a $83.00 target price for the company in a report on Wednesday, July 4th. Wells Fargo & Co restated a “market perform” rating and set a $80.00 target price (up from $74.00) on shares of Intercontinental Exchange in a report on Monday, July 9th. Barclays increased their price objective on Intercontinental Exchange from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, July 12th. Citigroup increased their price objective on Intercontinental Exchange from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, July 18th. Finally, FIX initiated coverage on Intercontinental Exchange in a report on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $83.67.

ICE stock traded down $0.57 during trading on Thursday, hitting $76.47. 37,682 shares of the company traded hands, compared to its average volume of 3,203,641. The stock has a market capitalization of $41.92 billion, a PE ratio of 26.03, a P/E/G ratio of 2.15 and a beta of 0.65. Intercontinental Exchange has a 1 year low of $65.14 and a 1 year high of $78.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Intercontinental Exchange had a return on equity of 11.45% and a net margin of 41.83%. Intercontinental Exchange’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. Analysts anticipate that Intercontinental Exchange will post 3.45 EPS for the current year.

In other news, CFO Scott A. Hill sold 70,659 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $76.56, for a total value of $5,409,653.04. Following the completion of the transaction, the chief financial officer now owns 231,782 shares of the company’s stock, valued at approximately $17,745,229.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 80,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $73.28, for a total value of $5,862,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,819 shares of company stock valued at $21,703,215. Company insiders own 1.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Colony Group LLC increased its position in Intercontinental Exchange by 19.4% during the 2nd quarter. Colony Group LLC now owns 4,221 shares of the financial services provider’s stock valued at $310,000 after buying an additional 686 shares in the last quarter. Atria Investments LLC increased its position in Intercontinental Exchange by 4.0% during the 3rd quarter. Atria Investments LLC now owns 17,877 shares of the financial services provider’s stock valued at $1,339,000 after buying an additional 692 shares in the last quarter. DNB Asset Management AS increased its position in Intercontinental Exchange by 0.3% during the 3rd quarter. DNB Asset Management AS now owns 205,036 shares of the financial services provider’s stock valued at $15,355,000 after buying an additional 706 shares in the last quarter. Traynor Capital Management Inc. increased its position in Intercontinental Exchange by 15.4% during the 2nd quarter. Traynor Capital Management Inc. now owns 5,309 shares of the financial services provider’s stock valued at $391,000 after buying an additional 707 shares in the last quarter. Finally, World Asset Management Inc increased its position in Intercontinental Exchange by 2.0% during the 2nd quarter. World Asset Management Inc now owns 37,002 shares of the financial services provider’s stock valued at $2,721,000 after buying an additional 709 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

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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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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