Intercontinental Exchange’s (ICE) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $200.00 price target on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Bank of America boosted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Stock Down 0.1 %

ICE opened at $146.35 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $167.99. The stock has a market capitalization of $84.03 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.57 and a beta of 1.10. The business has a 50 day simple moving average of $154.33 and a 200-day simple moving average of $155.15.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,533 shares of company stock valued at $1,196,279. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently bought and sold shares of ICE. Victory Capital Management Inc. raised its position in shares of Intercontinental Exchange by 17.0% in the 2nd quarter. Victory Capital Management Inc. now owns 251,633 shares of the financial services provider’s stock worth $34,446,000 after buying an additional 36,616 shares during the period. Private Advisor Group LLC lifted its stake in shares of Intercontinental Exchange by 11.4% in the 2nd quarter. Private Advisor Group LLC now owns 29,381 shares of the financial services provider’s stock valued at $4,022,000 after purchasing an additional 2,998 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Intercontinental Exchange by 3.9% during the 2nd quarter. Savant Capital LLC now owns 8,005 shares of the financial services provider’s stock worth $1,096,000 after purchasing an additional 302 shares during the period. Acadian Asset Management LLC increased its position in Intercontinental Exchange by 2,785.9% during the 2nd quarter. Acadian Asset Management LLC now owns 15,728 shares of the financial services provider’s stock worth $2,150,000 after purchasing an additional 15,183 shares in the last quarter. Finally, Caprock Group LLC increased its position in Intercontinental Exchange by 12.6% during the 2nd quarter. Caprock Group LLC now owns 7,031 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 786 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.