Intercontinental Exchange (NYSE:ICE) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research report released on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $200.00 target price on the financial services provider’s stock.

ICE has been the topic of a number of other reports. Citigroup boosted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a report on Tuesday, July 9th. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and increased their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. StockNews.com cut Intercontinental Exchange from a hold rating to a sell rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the company an overweight rating in a research report on Monday, September 16th. Finally, Keefe, Bruyette & Woods restated an outperform rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $162.47.

Intercontinental Exchange Trading Up 1.3 %

Intercontinental Exchange stock opened at $160.64 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $92.14 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The stock has a 50-day moving average of $157.12 and a two-hundred day moving average of $143.72. Intercontinental Exchange has a one year low of $104.49 and a one year high of $163.71.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm posted $1.43 EPS. On average, research analysts anticipate that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,316 shares of company stock valued at $9,835,609. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Gilbert & Cook Inc. raised its holdings in shares of Intercontinental Exchange by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 188 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in Intercontinental Exchange by 29.9% during the 4th quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 1,752 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in Intercontinental Exchange by 38.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,356 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 1,220 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Intercontinental Exchange by 1.8% during the fourth quarter. Advisory Services Network LLC now owns 8,108 shares of the financial services provider’s stock worth $1,041,000 after buying an additional 140 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Intercontinental Exchange by 14.2% in the fourth quarter. Stifel Financial Corp now owns 393,822 shares of the financial services provider’s stock worth $50,587,000 after buying an additional 48,850 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.