Intercontinental Exchange (NYSE:ICE) Receives New Coverage from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Intercontinental Exchange (NYSE:ICE) in a report released on Thursday, Marketbeat reports. The firm issued a buy rating and a $182.00 price objective on the financial services provider’s stock.

ICE has been the subject of several other reports. The Goldman Sachs Group upgraded Intercontinental Exchange from a neutral rating to a buy rating and raised their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a hold rating in a report on Thursday, August 15th. StockNews.com downgraded shares of Intercontinental Exchange from a hold rating to a sell rating in a research report on Friday, September 6th. Barclays lifted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $159.79.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $158.12 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average price is $156.46 and its 200-day moving average price is $143.20. The stock has a market cap of $90.78 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company earned $1.43 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts expect that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,268 shares of company stock worth $9,508,809. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several hedge funds have recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Annapolis Financial Services LLC increased its holdings in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $25,000. Finally, Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. 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.