Sanford C. Bernstein initiated coverage on shares of Intercontinental Exchange (NYSE:ICE) in a note issued to investors on Monday, The Fly reports. The brokerage set an “outperform” rating on the financial services provider’s stock.
Several other research analysts also recently commented on ICE. Argus boosted their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, January 3rd. Berenberg Bank initiated coverage on Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Bank of America reduced their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, JPMorgan Chase raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $76.00 to $83.00 in a report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $77.77.
Shares of ICE traded up $0.27 on Monday, hitting $70.89. The company’s stock had a trading volume of 1,928,913 shares, compared to its average volume of 2,843,214. The company has a market capitalization of $41,121.62, a P/E ratio of 24.03, a PEG ratio of 2.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a fifty-two week low of $57.91 and a fifty-two week high of $76.30.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. Intercontinental Exchange’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. sell-side analysts anticipate that Intercontinental Exchange will post 3.57 EPS for the current fiscal year.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $71.97, for a total transaction of $3,598,500.00. Following the completion of the sale, the insider now owns 432,507 shares in the company, valued at approximately $31,127,528.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 7,526 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $75.00, for a total transaction of $564,450.00. Following the sale, the chief financial officer now owns 202,371 shares of the company’s stock, valued at approximately $15,177,825. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,074 shares of company stock worth $17,377,209. Company insiders own 1.50% of the company’s stock.
Several institutional investors have recently modified their holdings of ICE. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $109,000. Valeo Financial Advisors LLC raised its position in shares of Intercontinental Exchange by 257.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 1,172 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $122,000. Cerebellum GP LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $127,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $145,000. Institutional investors own 90.74% of the company’s stock.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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