Intercontinental Exchange (NYSE:ICE) Given New $185.00 Price Target at Raymond James

Intercontinental Exchange (NYSE:ICE) had its target price hoisted by Raymond James from $174.00 to $185.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ price target indicates a potential upside of 13.76% from the stock’s previous close.

A number of other research firms have also weighed in on ICE. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.80.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.64 during mid-day trading on Friday, reaching $162.62. The stock had a trading volume of 1,307,991 shares, compared to its average volume of 2,490,506. The firm has a market cap of $93.28 billion, a price-to-earnings ratio of 37.31, a PEG 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 $164.18. The business has a fifty day moving average of $157.92 and a 200 day moving average of $144.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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. The business 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%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. Equities analysts predict that Intercontinental Exchange will post 6.04 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,316 shares of company stock worth $9,835,609. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American National Bank boosted its holdings in shares of Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Intercontinental Exchange by 3.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after buying an additional 73 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Intercontinental Exchange by 1.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after buying an additional 74 shares in the last quarter. Founders Financial Securities LLC boosted its holdings in shares of Intercontinental Exchange by 4.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after buying an additional 74 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its holdings in shares of Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 75 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

About Intercontinental Exchange

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.