Intercontinental Exchange (NYSE:ICE) has received a consensus recommendation of “Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $78.36.
ICE has been the subject of several research analyst reports. Argus reiterated a “buy” rating and set a $67.00 target price (down from $80.00) on shares of Intercontinental Exchange in a research report on Friday, February 9th. Bank of America dropped their target price on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. JPMorgan Chase & Co. upgraded shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $76.00 to $83.00 in a research report on Tuesday, February 20th. Zacks Investment Research lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Berenberg Bank started coverage on shares of Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 target price for the company.
In other news, President Benjamin Jackson sold 3,045 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $74.17, for a total value of $225,847.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total transaction of $9,698,848.30. Following the completion of the sale, the chief executive officer now owns 1,454,661 shares of the company’s stock, valued at $106,684,837.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,132 shares of company stock valued at $18,908,259. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ICE. BlackRock Inc. increased its stake in shares of Intercontinental Exchange by 6.0% in the fourth quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock worth $2,629,892,000 after buying an additional 2,104,818 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Intercontinental Exchange by 30.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,169,009 shares of the financial services provider’s stock worth $223,605,000 after buying an additional 747,757 shares during the period. CI Global Investments Inc. purchased a new position in shares of Intercontinental Exchange in the first quarter worth $47,938,000. Millennium Management LLC increased its stake in shares of Intercontinental Exchange by 54.7% in the fourth quarter. Millennium Management LLC now owns 1,613,351 shares of the financial services provider’s stock worth $113,838,000 after buying an additional 570,492 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Intercontinental Exchange by 10.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock worth $398,504,000 after buying an additional 557,332 shares during the period. 89.09% of the stock is currently owned by institutional investors.
Intercontinental Exchange traded down $0.48, hitting $71.27, during mid-day trading on Friday, MarketBeat.com reports. 2,185,700 shares of the company traded hands, compared to its average volume of 2,721,079. Intercontinental Exchange has a one year low of $59.63 and a one year high of $76.30. The firm has a market cap of $41.91 billion, a PE ratio of 24.16, a PEG ratio of 1.97 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 3rd. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. Intercontinental Exchange had a net margin of 41.65% and a return on equity of 11.14%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $0.74 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 5.1% on a year-over-year basis. research analysts anticipate that Intercontinental Exchange will post 3.52 earnings per share for the current year.
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.
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.