Intercontinental Exchange Inc. (ICE) Receives Buy Rating from Royal Bank Of Canada
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of 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. BidaskClub lowered shares of Intercontinental Exchange from a buy rating to a hold rating in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a buy rating and issued a $73.00 price objective (up previously from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a neutral rating and a $67.00 price objective on the stock. Finally, Deutsche Bank AG reiterated a buy rating and issued a $66.00 price objective (down previously from $67.00) on shares of Intercontinental Exchange in a research note on Monday, May 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Intercontinental Exchange presently has an average rating of Buy and a consensus price target of $68.36.
Intercontinental Exchange (ICE) traded down 0.81% during mid-day trading on Tuesday, reaching $64.62. 444,312 shares of the company’s stock traded hands. Intercontinental Exchange has a 52-week low of $52.27 and a 52-week high of $67.48. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 23.94 and a beta of 0.71. The company has a 50-day moving average of $65.88 and a 200-day moving average of $61.69.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange will post $2.95 EPS for the current year.
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In other news, CEO Jeffrey C. Sprecher sold 73,374 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $59.91, for a total transaction of $4,395,836.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Jefferson Hague sold 1,150 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $59.94, for a total transaction of $68,931.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,024 shares of company stock worth $9,732,522. 1.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its position in shares of Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after buying an additional 32 shares during the period. IHT Wealth Management LLC increased its stake in Intercontinental Exchange by 10.8% in the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after buying an additional 18 shares in the last quarter. Norway Savings Bank increased its stake in Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. increased its stake in Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Intercontinental Exchange during the second quarter valued at about $128,000. Institutional investors own 89.38% of the company’s stock.
About Intercontinental Exchange
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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