Intercontinental Exchange Inc. (NYSE:ICE) had its target price raised by UBS AG from $73.00 to $80.00 in a report published on Friday morning, www.benzinga.com reports. UBS AG currently has a buy rating on the financial services provider’s stock.
Several other equities analysts also recently weighed in on ICE. BidaskClub downgraded Intercontinental Exchange from a buy rating to a hold rating in a report on Wednesday, July 12th. Citigroup Inc. started coverage on Intercontinental Exchange in a report on Wednesday, July 12th. They set a neutral rating and a $67.00 price target for the company. Royal Bank Of Canada upgraded Intercontinental Exchange from a sector perform rating to an outperform rating and raised their price target for the company from $65.00 to $70.00 in a report on Thursday, July 13th. Zacks Investment Research upgraded Intercontinental Exchange from a hold rating to a buy rating and set a $74.00 price objective for the company in a report on Thursday, July 13th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $73.30.
Shares of Intercontinental Exchange (ICE) traded down $0.31 during trading hours on Friday, hitting $65.93. The stock had a trading volume of 719,916 shares, compared to its average volume of 3,550,000. Intercontinental Exchange has a 1 year low of $53.27 and a 1 year high of $71.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $38,750.00, a P/E ratio of 22.68, a PEG ratio of 2.41 and a beta of 0.68.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. analysts expect that Intercontinental Exchange will post 2.95 EPS for the current year.
Intercontinental Exchange declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other news, CEO Jeffrey C. Sprecher sold 80,420 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $64.32, for a total value of $804,000.00. Following the transaction, the insider now directly owns 382,471 shares in the company, valued at $24,600,534.72. The disclosure for this sale can be found here. Insiders sold 143,050 shares of company stock worth $9,557,830 over the last three months. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Intrust Bank NA lifted its position in shares of Intercontinental Exchange by 16.7% during the 3rd quarter. Intrust Bank NA now owns 6,574 shares of the financial services provider’s stock valued at $452,000 after buying an additional 942 shares in the last quarter. Sei Investments Co. lifted its position in shares of Intercontinental Exchange by 0.4% during the 3rd quarter. Sei Investments Co. now owns 841,671 shares of the financial services provider’s stock valued at $57,823,000 after buying an additional 2,969 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Intercontinental Exchange by 37.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 327,417 shares of the financial services provider’s stock valued at $22,494,000 after buying an additional 89,131 shares in the last quarter. GW Henssler & Associates Ltd. lifted its position in shares of Intercontinental Exchange by 0.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 225,769 shares of the financial services provider’s stock valued at $15,510,000 after buying an additional 1,397 shares in the last quarter. Finally, Moreno Evelyn V purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at about $553,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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