Intercontinental Exchange (NYSE:ICE) Cut to “Outperform” at Raymond James

Raymond James cut shares of Intercontinental Exchange (NYSE:ICE) from a strong-buy rating to an outperform rating in a research report report published on Monday, MarketBeat.com reports. Raymond James currently has $185.00 price objective on the financial services provider’s stock.

Several other research firms also recently commented on ICE. Citigroup lifted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America lifted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler raised their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $172.80.

Intercontinental Exchange Trading Down 0.2 %

Shares of ICE opened at $164.80 on Monday. The firm’s 50 day simple moving average is $160.30 and its 200 day simple moving average is $145.99. The company has a market capitalization of $94.53 billion, a P/E ratio of 37.80, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $167.23.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. Sell-side analysts forecast that Intercontinental Exchange will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,532 shares of company stock worth $1,358,709 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. CCLA Investment Management raised its position in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after purchasing an additional 1,113,079 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $124,508,000. Janus Henderson Group PLC raised its position in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the last quarter. Finally, James Hambro & Partners purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $93,340,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.