Intercontinental Exchange Inc. (NYSE:ICE) had its price target boosted by Royal Bank Of Canada from $70.00 to $76.00 in a report released on Monday, MarketBeat.com reports. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.
Several other research analysts also recently weighed in on ICE. Wells Fargo & Company boosted their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a market perform rating in a research note on Thursday, October 5th. BidaskClub downgraded Intercontinental Exchange from a buy rating to a hold rating in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods restated a buy rating and set a $73.00 target price on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Jefferies Group LLC restated a buy rating and set a $73.00 target price (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a sell rating to a hold rating in a research note on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $72.33.
Shares of Intercontinental Exchange (NYSE:ICE) opened at 66.85 on Monday. Intercontinental Exchange has a 52-week low of $52.27 and a 52-week high of $71.24. The stock has a market capitalization of $7.69 billion, a PE ratio of 24.77 and a beta of 0.74. The company’s 50 day moving average price is $67.48 and its 200 day moving average price is $64.17.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $0.69 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Intercontinental Exchange will post $2.95 EPS for the current year.
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In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,550 shares of company stock worth $10,394,455. Company insiders own 1.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Tandem Investment Advisors Inc. grew its stake in Intercontinental Exchange by 2.1% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 135,441 shares of the financial services provider’s stock valued at $9,305,000 after purchasing an additional 2,803 shares during the last quarter. Park National Corp OH boosted its stake in shares of Intercontinental Exchange by 48.1% in the third quarter. Park National Corp OH now owns 95,016 shares of the financial services provider’s stock worth $6,527,000 after buying an additional 30,843 shares during the last quarter. WFG Advisors LP boosted its stake in shares of Intercontinental Exchange by 10.1% in the second quarter. WFG Advisors LP now owns 11,699 shares of the financial services provider’s stock worth $771,000 after buying an additional 1,075 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Intercontinental Exchange by 25.4% in the second quarter. Toronto Dominion Bank now owns 201,609 shares of the financial services provider’s stock worth $13,287,000 after buying an additional 40,863 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $219,000. Institutional investors and hedge funds own 89.62% of the company’s stock.
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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