Intercontinental Exchange (NYSE:ICE) Upgraded at StockNews.com

StockNews.com upgraded shares of Intercontinental Exchange (NYSE:ICE) from a sell rating to a hold rating in a research note released on Tuesday morning.

Other analysts have also recently issued research reports about the company. Barclays lowered their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Rosenblatt Securities reissued a buy rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Argus reissued a buy rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and raised their price objective for the stock from $143.00 to $167.00 in a research report on Monday. Finally, Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of Moderate Buy and an average price target of $151.29.

Intercontinental Exchange Trading Up 0.2 %

Shares of NYSE:ICE opened at $141.16 on Tuesday. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $141.59. The business’s fifty day simple moving average is $134.96 and its 200-day simple moving average is $133.18. The company has a market capitalization of $80.97 billion, a PE ratio of 32.38, a P/E/G ratio of 2.62 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $1.41 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange will post 5.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the transaction, the director now owns 28,849 shares of the company’s stock, valued at approximately $3,882,209.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the transaction, the director now owns 28,849 shares of the company’s stock, valued at approximately $3,882,209.93. The disclosure for this sale can be found here. Insiders sold a total of 4,506 shares of company stock valued at $609,374 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently modified their holdings of ICE. Wellington Management Group LLP increased its stake in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares in the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $839,259,000. Vanguard Group Inc. increased its stake in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Capital World Investors increased its stake in Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after buying an additional 2,530,119 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after buying an additional 1,790,493 shares in the last quarter. 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.