Intercontinental Exchange Inc (ICE) Given Average Recommendation of “Buy” by Brokerages

Intercontinental Exchange Inc (NYSE:ICE) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $75.40.

A number of research firms have recently commented on ICE. UBS Group raised their price objective on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Citigroup raised their price objective on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Barclays raised their price objective on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Wells Fargo & Co raised their price objective on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 5th. Finally, Royal Bank of Canada raised their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, October 16th.

Intercontinental Exchange (NYSE ICE) opened at $74.78 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange has a 1 year low of $55.80 and a 1 year high of $75.01. The company has a market cap of $43,750.00, a P/E ratio of 27.19, a PEG ratio of 2.29 and a beta of 0.70.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the business earned $0.64 earnings per share. Intercontinental Exchange’s revenue was up 6.0% compared to the same quarter last year. analysts predict that Intercontinental Exchange will post 2.95 EPS for the current fiscal year.

Intercontinental Exchange announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $71.93, for a total transaction of $539,475.00. Following the completion of the sale, the insider now directly owns 377,471 shares in the company, valued at $27,151,489.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $68.52, for a total transaction of $856,500.00. Following the sale, the insider now owns 382,471 shares of the company’s stock, valued at $26,206,912.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,070 shares of company stock valued at $2,684,849. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. KCS Wealth Advisory bought a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $229,000. Hexavest Inc. raised its stake in shares of Intercontinental Exchange by 6.5% during the fourth quarter. Hexavest Inc. now owns 306,344 shares of the financial services provider’s stock worth $21,616,000 after acquiring an additional 18,743 shares in the last quarter. Broadleaf Partners LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $2,004,000. Appleton Partners Inc. MA raised its stake in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Appleton Partners Inc. MA now owns 94,687 shares of the financial services provider’s stock worth $6,681,000 after acquiring an additional 2,240 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its stake in shares of Intercontinental Exchange by 4.1% during the fourth quarter. Sit Investment Associates Inc. now owns 29,680 shares of the financial services provider’s stock worth $2,094,000 after acquiring an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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About Intercontinental Exchange

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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