Shares of Intercontinental Exchange (NYSE:ICE) have earned an average recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $78.36.
Several equities research analysts have recently commented on the company. Deutsche Bank lifted their target price on Intercontinental Exchange from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, April 6th. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. JPMorgan Chase set a $83.00 target price on Intercontinental Exchange and gave the company a “buy” rating in a research note on Wednesday, May 2nd. Bank of America lowered their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, Argus reissued a “buy” rating and issued a $67.00 target price (down from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th.
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ICE stock traded up $0.66 during midday trading on Friday, reaching $72.21. 73,339 shares of the company’s stock traded hands, compared to its average volume of 2,749,758. Intercontinental Exchange has a 1-year low of $58.46 and a 1-year high of $76.30. The stock has a market capitalization of $41.44 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 1.95 and a beta of 0.64. 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 released its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Intercontinental Exchange had a return on equity of 11.14% and a net margin of 41.65%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. equities analysts expect that Intercontinental Exchange will post 3.52 earnings per share for the current fiscal year.
In related news, President Benjamin Jackson sold 2,500 shares of Intercontinental Exchange stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $72.75, for a total transaction of $181,875.00. Following the completion of the sale, the president now directly owns 64,154 shares of the company’s stock, valued at $4,667,203.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Mark Wassersug sold 7,898 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $71.49, for a total value of $564,628.02. Following the sale, the chief operating officer now directly owns 36,977 shares of the company’s stock, valued at $2,643,485.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,632 shares of company stock valued at $19,090,134. 1.50% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Intercontinental Exchange by 6.0% during the fourth quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock worth $2,629,892,000 after acquiring an additional 2,104,818 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Intercontinental Exchange by 30.9% during the fourth quarter. TIAA CREF Investment Management LLC now owns 3,169,009 shares of the financial services provider’s stock worth $223,605,000 after acquiring an additional 747,757 shares in the last quarter. CI Global Investments Inc. bought a new position in Intercontinental Exchange during the first quarter worth about $47,938,000. Millennium Management LLC lifted its holdings in Intercontinental Exchange by 54.7% during the fourth quarter. Millennium Management LLC now owns 1,613,351 shares of the financial services provider’s stock worth $113,838,000 after acquiring an additional 570,492 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Intercontinental Exchange by 10.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock worth $398,504,000 after acquiring an additional 557,332 shares in the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.
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.