Intercontinental Exchange’s (ICE) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a research note issued to investors on Friday, Benzinga reports. They currently have a $200.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Barclays upped their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. StockNews.com upgraded Intercontinental Exchange from a sell rating to a hold rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. The Goldman Sachs Group boosted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a buy rating in a report on Thursday, October 3rd. Finally, Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $168.60.

Intercontinental Exchange Trading Down 2.0 %

Shares of ICE opened at $159.54 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $91.51 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 2.81 and a beta of 1.08. The stock has a fifty day moving average price of $158.16 and a two-hundred day moving average price of $144.48. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $164.18.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business posted $1.43 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts predict that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,532 shares of company stock valued at $1,507,309. 1.10% of the stock is owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Intercontinental Exchange by 4.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after purchasing an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. increased its stake in Intercontinental Exchange by 0.6% in the 1st quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after buying an additional 28,771 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after buying an additional 191,763 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

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.