Rosenblatt Securities Reiterates “Buy” Rating for Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange (NYSE:ICE)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a note issued to investors on Friday, Benzinga reports. They presently have a $164.00 target price on the financial services provider’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 25.67% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Barclays upped their price objective on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Raymond James raised their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Citigroup raised their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.92.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $130.50 on Friday. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The stock’s fifty day moving average is $135.01 and its two-hundred day moving average is $125.81. The company has a market capitalization of $74.73 billion, a P/E ratio of 29.93, a P/E/G ratio of 2.14 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the company earned $1.41 EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange will post 5.95 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, insider Elizabeth Kathryn King sold 3,783 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the transaction, the insider now owns 17,242 shares in the company, valued at approximately $2,276,461.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock valued at $21,499,127 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Several institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $25,000. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC increased its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. Jones Financial Companies Lllp purchased a new stake in Intercontinental Exchange in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at approximately $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.