Intercontinental Exchange Inc. (ICE) Stock Rating Reaffirmed by Jefferies Group LLC
Intercontinental Exchange Inc. (NYSE:ICE)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group LLC in a report released on Monday. They presently have a $73.00 price target on the financial services provider’s stock, up from their previous price target of $70.00. Jefferies Group LLC’s price target would suggest a potential upside of 11.08% from the stock’s current price.
Other research analysts have also issued research reports about the company. BidaskClub upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $65.50 price target on shares of Intercontinental Exchange in a report on Wednesday, April 12th. Deutsche Bank AG reiterated a “buy” rating and issued a $66.00 price target (down previously from $67.00) on shares of Intercontinental Exchange in a report on Monday, May 15th. Zacks Investment Research upgraded 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. Finally, Royal Bank Of Canada set a $61.00 price target on Intercontinental Exchange and gave the stock a “hold” rating in a report on Thursday, April 20th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $67.49.
Shares of Intercontinental Exchange (NYSE ICE) opened at 65.72 on Monday. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 25.37 and a beta of 0.71. The company has a 50-day moving average price of $62.12 and a 200-day moving average price of $59.66. Intercontinental Exchange has a 12 month low of $52.15 and a 12 month high of $67.33.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Intercontinental Exchange had a return on equity of 10.67% and a net margin of 26.48%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $3.68 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange will post $3.01 earnings per share for the current fiscal year.
In related news, CFO Scott A. Hill sold 17,000 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $65.00, for a total transaction of $1,105,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $60.53, for a total value of $907,950.00. Following the sale, the insider now directly owns 373,061 shares of the company’s stock, valued at $22,581,382.33. The disclosure for this sale can be found here. Insiders have sold 168,889 shares of company stock valued at $10,350,825 over the last ninety days. 1.50% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Liberty Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 58.7% in the first quarter. Liberty Capital Management Inc. now owns 11,644 shares of the financial services provider’s stock worth $697,000 after buying an additional 4,309 shares during the last quarter. Park National Corp OH increased its stake in shares of Intercontinental Exchange by 26.1% in the first quarter. Park National Corp OH now owns 58,817 shares of the financial services provider’s stock worth $3,522,000 after buying an additional 12,191 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Intercontinental Exchange by 379.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,398,113 shares of the financial services provider’s stock worth $191,722,000 after buying an additional 2,689,297 shares during the last quarter. Highbridge Capital Management LLC increased its stake in shares of Intercontinental Exchange by 123.7% in the fourth quarter. Highbridge Capital Management LLC now owns 29,613 shares of the financial services provider’s stock worth $1,671,000 after buying an additional 16,373 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $1,088,000. 89.44% of the stock is owned by institutional investors.
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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