Intercontinental Exchange (NYSE:ICE – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft cut their price objective on Intercontinental Exchange from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, October 12th. Morgan Stanley upped their price objective on Intercontinental Exchange from $110.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 12th. Rosenblatt Securities began coverage on Intercontinental Exchange in a research report on Tuesday, August 16th. They set a “buy” rating and a $164.00 price objective on the stock. Atlantic Securities upped their price objective on Intercontinental Exchange from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Finally, UBS Group cut their price objective on Intercontinental Exchange from $128.00 to $116.00 and set a “buy” rating on the stock in a research report on Thursday, October 6th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $128.33.
Intercontinental Exchange Trading Up 1.2 %
NYSE ICE traded up $1.15 on Friday, reaching $96.62. The stock had a trading volume of 2,872,526 shares, compared to its average volume of 3,017,759. The firm has a market capitalization of $53.96 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.24 and a beta of 0.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.79. Intercontinental Exchange has a 12-month low of $88.60 and a 12-month high of $138.46. The stock has a fifty day moving average price of $95.45 and a two-hundred day moving average price of $99.67.
Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its earnings results on Thursday, August 4th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Intercontinental Exchange had a return on equity of 13.52% and a net margin of 35.58%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Intercontinental Exchange will post 5.32 EPS for the current fiscal year.
Insider Buying and Selling at Intercontinental Exchange
In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $107.73, for a total transaction of $172,368.00. Following the completion of the sale, the senior vice president now owns 22,402 shares in the company, valued at $2,413,367.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $107.73, for a total transaction of $172,368.00. Following the completion of the sale, the senior vice president now owns 22,402 shares in the company, valued at $2,413,367.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.00, for a total transaction of $267,500.00. Following the sale, the general counsel now owns 42,007 shares of the company’s stock, valued at approximately $4,494,749. The disclosure for this sale can be found here. Insiders sold 91,477 shares of company stock worth $8,736,314 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On Intercontinental Exchange
A number of hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its holdings in shares of Intercontinental Exchange by 5.6% during the first quarter. Benjamin Edwards Inc. now owns 1,703 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 90 shares during the period. Leuthold Group LLC raised its holdings in shares of Intercontinental Exchange by 0.3% during the first quarter. Leuthold Group LLC now owns 31,367 shares of the financial services provider’s stock valued at $4,144,000 after acquiring an additional 92 shares during the period. Tiedemann Advisors LLC increased its stake in Intercontinental Exchange by 0.6% in the 1st quarter. Tiedemann Advisors LLC now owns 15,979 shares of the financial services provider’s stock valued at $2,111,000 after buying an additional 99 shares during the period. Skylands Capital LLC increased its stake in Intercontinental Exchange by 2.0% in the 2nd quarter. Skylands Capital LLC now owns 5,200 shares of the financial services provider’s stock valued at $489,000 after buying an additional 100 shares during the period. Finally, Altman Advisors Inc. increased its stake in Intercontinental Exchange by 1.0% in the 2nd quarter. Altman Advisors Inc. now owns 10,383 shares of the financial services provider’s stock valued at $1,045,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 87.00% of the company’s stock.
About Intercontinental Exchange
Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
Further Reading
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