Intercontinental Exchange (NYSE:ICE) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Intercontinental Exchange (NYSE:ICE) in a report issued on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $200.00 price objective on the financial services provider’s stock.

Several other research firms also recently commented on ICE. TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a buy rating and a $182.00 price objective on the stock. Barclays lifted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an overweight rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a hold rating in a research note on Thursday, August 15th. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a neutral rating to a buy rating and lifted their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Finally, Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $162.47.

Intercontinental Exchange Stock Performance

ICE opened at $160.64 on Friday. The company’s 50 day moving average is $157.12 and its 200 day moving average is $143.72. 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 has a market cap of $92.14 billion, a price-to-earnings ratio of 36.84, 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 $163.71.

Intercontinental Exchange (NYSE:ICE) last posted 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. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’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 EPS. On average, equities research analysts predict that Intercontinental Exchange will post 6.04 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently bought and sold shares of the business. American National Bank grew its stake in Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 69 shares in the last quarter. Catalyst Financial Partners LLC raised its position in Intercontinental Exchange by 3.4% during the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Intercontinental Exchange by 1.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after buying an additional 74 shares in the last quarter. Founders Financial Securities LLC increased its stake in shares of Intercontinental Exchange by 4.8% during the second 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 during the period. Finally, Pettyjohn Wood & White Inc. raised its holdings in shares of Intercontinental Exchange by 0.5% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares in the last quarter. 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.