Analysts Set Intercontinental Exchange Inc (NYSE:ICE) PT at $87.95

Shares of Intercontinental Exchange Inc (NYSE:ICE) have been given an average rating of “Buy” by the thirteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $87.94.

Several brokerages recently commented on ICE. Raymond James lifted their target price on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, July 5th. Citigroup downgraded Intercontinental Exchange from a “buy” rating to a “neutral” rating and boosted their price target for the company from $92.00 to $99.00 in a report on Monday, July 22nd. Finally, ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday, May 13th.

Shares of ICE traded down $2.06 during trading hours on Thursday, hitting $90.12. The company had a trading volume of 2,533,402 shares, compared to its average volume of 2,478,696. Intercontinental Exchange has a 52-week low of $69.69 and a 52-week high of $95.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $91.59 and its 200 day moving average price is $83.77. The firm has a market cap of $53.18 billion, a P/E ratio of 25.10, a P/E/G ratio of 3.07 and a beta of 0.49.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.85%. Intercontinental Exchange’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. On average, research analysts expect that Intercontinental Exchange will post 3.77 EPS for the current fiscal year.

In other news, CEO Jeffrey C. Sprecher sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $92.41, for a total value of $3,696,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Charles A. Vice sold 15,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $86.74, for a total transaction of $1,301,100.00. The disclosure for this sale can be found here. Insiders sold a total of 167,160 shares of company stock valued at $15,261,966 over the last 90 days. Company insiders own 1.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ICE. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Intercontinental Exchange by 1.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 159,357 shares of the financial services provider’s stock worth $13,695,000 after purchasing an additional 2,865 shares during the period. Atria Investments LLC lifted its position in Intercontinental Exchange by 17.0% during the second quarter. Atria Investments LLC now owns 23,904 shares of the financial services provider’s stock valued at $2,187,000 after buying an additional 3,480 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $776,000. BlackRock Inc. grew its position in shares of Intercontinental Exchange by 1.5% in the 2nd quarter. BlackRock Inc. now owns 33,727,734 shares of the financial services provider’s stock worth $2,898,562,000 after buying an additional 488,675 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of Intercontinental Exchange by 5.1% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 4,233 shares of the financial services provider’s stock worth $364,000 after buying an additional 206 shares during the period. 90.43% of the stock is owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

Further Reading: Outstanding Shares and The Effect on Share Price

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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