Intercontinental Exchange (NYSE:ICE) Stock Rating Reaffirmed by Royal Bank of Canada

Intercontinental Exchange (NYSE:ICE)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $200.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 22.03% from the company’s previous close.

Other research analysts have also issued reports about the stock. Bank of America upped their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective 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 upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $165.13.

Intercontinental Exchange Trading Up 0.4 %

NYSE:ICE opened at $163.90 on Friday. The company has a fifty day moving average of $157.92 and a 200 day moving average of $144.16. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $163.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $94.01 billion, a P/E ratio of 37.55, a P/E/G ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business earned $1.43 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold 68,316 shares of company stock worth $9,835,609 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Annapolis Financial Services LLC boosted its stake in Intercontinental Exchange by 1,018.8% during the first 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 period. New Millennium Group LLC purchased a new position in Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the second quarter worth $25,000. Finally, Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the second quarter worth $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.