Intercontinental Exchange Inc. (ICE) Receives “Buy” Rating from Keefe, Bruyette & Woods
Intercontinental Exchange Inc. (NYSE:ICE)‘s stock had its “buy” rating reissued by analysts at Keefe, Bruyette & Woods in a research note issued to investors on Sunday.
Several other brokerages have also recently weighed in on ICE. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $70.00 in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $73.00 price target (up previously from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Finally, BidaskClub cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average target price of $69.28.
Shares of Intercontinental Exchange (ICE) traded down 2.72% during midday trading on Friday, hitting $69.03. 4,333,437 shares of the stock were exchanged. Intercontinental Exchange has a 1-year low of $52.27 and a 1-year high of $71.24. The company has a market capitalization of $7.94 billion, a P/E ratio of 25.58 and a beta of 0.74. The firm has a 50-day moving average of $66.47 and a 200-day moving average of $63.59.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. Intercontinental Exchange’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities 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 80,420 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders have sold 143,050 shares of company stock valued at $9,522,455 over the last ninety days. 1.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of ICE. BlackRock Inc. boosted its stake in shares of Intercontinental Exchange by 2,943.4% during the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock valued at $2,098,452,000 after purchasing an additional 33,898,484 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Intercontinental Exchange by 1,254.2% during the second quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock valued at $596,480,000 after purchasing an additional 8,380,362 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Intercontinental Exchange by 340.8% during the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock valued at $337,737,000 after purchasing an additional 4,361,480 shares during the period. Northern Trust Corp boosted its stake in shares of Intercontinental Exchange by 19.9% during the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after purchasing an additional 1,883,432 shares during the period. Finally, Prudential PLC boosted its stake in shares of Intercontinental Exchange by 39,517.6% during the second quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock valued at $97,647,000 after purchasing an additional 1,477,562 shares during the period. 89.75% of the stock is owned by hedge funds and other 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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