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

Royal Bank of Canada reissued their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a report published on Tuesday,Benzinga reports. The firm currently has a $200.00 target price on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group lifted 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, JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $146.35 on Tuesday. The company has a market capitalization of $84.03 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a 1-year low of $124.34 and a 1-year high of $167.99. The business has a 50-day moving average of $154.33 and a 200-day moving average of $155.15.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. On average, equities analysts anticipate that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Intercontinental Exchange

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares during the period. FMR LLC increased its position in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Two Sigma Advisers LP increased its position in Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after acquiring an additional 1,301,200 shares during the period. Assenagon Asset Management S.A. raised its stake in Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after acquiring an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC boosted its position in Intercontinental Exchange by 142.2% during the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after acquiring an additional 490,671 shares during the period. 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.