Intercontinental Exchange (NYSE:ICE) Raised to Strong-Buy at Raymond James

Raymond James upgraded shares of Intercontinental Exchange (NYSE:ICE) from an outperform rating to a strong-buy rating in a research report sent to investors on Thursday, AnalystRatings.net reports. They currently have $125.00 price target on the financial services provider’s stock, up from their previous price target of $115.00.

ICE has been the topic of a number of other research reports. Oppenheimer lowered Intercontinental Exchange from an outperform rating to a market perform rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $98.00 to $101.00 and gave the stock an outperform rating in a research note on Friday, July 31st. The Goldman Sachs Group assumed coverage on shares of Intercontinental Exchange in a research report on Monday, October 19th. They set a buy rating and a $123.00 target price for the company. Zacks Investment Research downgraded Intercontinental Exchange from a hold rating to a sell rating and set a $105.00 price target on the stock. in a research report on Tuesday, August 11th. Finally, UBS Group lifted their price objective on Intercontinental Exchange from $121.00 to $126.00 and gave the company a buy rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intercontinental Exchange presently has an average rating of Buy and an average target price of $113.00.

NYSE:ICE opened at $101.06 on Thursday. The company has a market capitalization of $56.72 billion, a P/E ratio of 27.84, a PEG ratio of 1.98 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. Intercontinental Exchange has a 12 month low of $63.51 and a 12 month high of $106.99. The firm has a fifty day simple moving average of $99.51 and a 200-day simple moving average of $97.45.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 29th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Intercontinental Exchange had a return on equity of 13.63% and a net margin of 26.19%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Equities analysts forecast that Intercontinental Exchange will post 4.45 EPS for the current year.

In related news, President Benjamin Jackson sold 1,000 shares of Intercontinental Exchange stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $105.00, for a total value of $105,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott A. Hill sold 39,800 shares of Intercontinental Exchange stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $105.36, for a total value of $4,193,328.00. Following the completion of the sale, the chief financial officer now owns 185,792 shares in the company, valued at $19,575,045.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,212 shares of company stock worth $9,402,269. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. RMB Capital Management LLC boosted its stake in Intercontinental Exchange by 0.7% during the 3rd quarter. RMB Capital Management LLC now owns 14,504 shares of the financial services provider’s stock worth $1,451,000 after purchasing an additional 106 shares during the last quarter. Ninety One SA PTY Ltd lifted its stake in shares of Intercontinental Exchange by 17.5% in the third quarter. Ninety One SA PTY Ltd now owns 753 shares of the financial services provider’s stock worth $75,000 after buying an additional 112 shares in the last quarter. United Bank boosted its position in Intercontinental Exchange by 0.7% during the second quarter. United Bank now owns 16,191 shares of the financial services provider’s stock worth $1,483,000 after acquiring an additional 116 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in Intercontinental Exchange by 1.8% during the third quarter. Cetera Advisor Networks LLC now owns 6,972 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 120 shares during the last quarter. Finally, We Are One Seven LLC grew its stake in Intercontinental Exchange by 3.0% during the 3rd quarter. We Are One Seven LLC now owns 4,255 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.

About Intercontinental Exchange

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, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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