Intercontinental Exchange, Inc. (NYSE:ICE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Intercontinental Exchange, Inc. (NYSE:ICE) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $148.29.

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Barclays reduced their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Citigroup lifted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th.

Insider Transactions at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 63,234 shares of company stock valued at $8,668,823. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Annapolis Financial Services LLC raised its position in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange in the third quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the first quarter valued at about $26,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1 %

NYSE ICE opened at $136.38 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $78.23 billion, a P/E ratio of 31.28, a P/E/G ratio of 2.54 and a beta of 1.06. Intercontinental Exchange has a one year low of $104.49 and a one year high of $140.43. The stock has a 50 day moving average price of $133.67 and a 200-day moving average price of $131.70.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. Intercontinental Exchange’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange will post 5.96 EPS for the current fiscal year.

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.