FIX Initiates Coverage on Intercontinental Exchange (NYSE:ICE)

FIX started coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research report report published on Monday morning, The Fly reports. The brokerage issued an outperform rating and a $100.00 price objective on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Citigroup lowered shares of Intercontinental Exchange from a buy rating to a neutral rating and raised their target price for the stock from $92.00 to $99.00 in a research note on Monday, July 22nd. Raymond James raised 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $90.71.

ICE opened at $93.53 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $91.96 and its two-hundred day simple moving average is $84.40. Intercontinental Exchange has a 1-year low of $69.69 and a 1-year high of $95.55. The firm has a market capitalization of $51.49 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 3.03 and a beta of 0.50.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $0.90 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange will post 3.77 earnings per share for the current fiscal year.

In other news, Vice Chairman Charles A. Vice sold 15,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $86.74, for a total transaction of $1,301,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 33,875 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $90.06, for a total transaction of $3,050,782.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,160 shares of company stock worth $15,261,966. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ICE. Nuveen Asset Management LLC raised its position in shares of Intercontinental Exchange by 17,275.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,039,683 shares of the financial services provider’s stock valued at $433,110,000 after buying an additional 5,010,678 shares during the period. Lazard Asset Management LLC increased its holdings in Intercontinental Exchange by 63.8% in the 1st quarter. Lazard Asset Management LLC now owns 12,800,711 shares of the financial services provider’s stock valued at $974,645,000 after purchasing an additional 4,986,008 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $414,300,000. Invesco Ltd. increased its holdings in Intercontinental Exchange by 143.0% in the 2nd quarter. Invesco Ltd. now owns 6,510,255 shares of the financial services provider’s stock valued at $559,491,000 after purchasing an additional 3,831,538 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in Intercontinental Exchange by 107.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 4,378,312 shares of the financial services provider’s stock valued at $333,365,000 after purchasing an additional 2,264,702 shares during the last quarter. 89.74% of the stock is currently owned by hedge funds and other 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.

Recommended Story: Benefits of owning preferred stock

The Fly

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit