Intercontinental Exchange Inc (NYSE:ICE) has received a consensus rating of “Buy” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $75.40.
ICE has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Wells Fargo & Co raised their price objective on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. Barclays increased their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Finally, Royal Bank of Canada increased their target price on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 16th.
In related news, Vice Chairman Charles A. Vice sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $71.93, for a total transaction of $539,475.00. Following the completion of the sale, the insider now owns 377,471 shares in the company, valued at $27,151,489.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $68.52, for a total transaction of $856,500.00. Following the sale, the insider now owns 382,471 shares of the company’s stock, valued at approximately $26,206,912.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,070 shares of company stock valued at $2,684,849. 1.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC increased its holdings in Intercontinental Exchange by 10.8% during the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after buying an additional 18 shares during the last quarter. Aspen Investment Management Inc increased its holdings in Intercontinental Exchange by 0.6% during the second quarter. Aspen Investment Management Inc now owns 8,820 shares of the financial services provider’s stock worth $581,000 after buying an additional 50 shares during the last quarter. Jump Trading LLC increased its holdings in Intercontinental Exchange by 0.4% during the second quarter. Jump Trading LLC now owns 15,248 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 68 shares during the last quarter. Advisory Services Network LLC increased its holdings in Intercontinental Exchange by 0.5% during the second quarter. Advisory Services Network LLC now owns 15,419 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 76 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Intercontinental Exchange by 5.7% during the second quarter. Oppenheimer & Co. Inc. now owns 6,010 shares of the financial services provider’s stock worth $396,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.
Intercontinental Exchange (ICE) opened at $74.78 on Friday. Intercontinental Exchange has a 12 month low of $55.80 and a 12 month high of $75.01. The firm has a market cap of $43,750.00, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. equities research analysts anticipate that Intercontinental Exchange will post 2.95 EPS for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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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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