Intercontinental Exchange Inc. (ICE) Stock Rating Reaffirmed by Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Intercontinental Exchange Inc. (NYSE:ICE) in a report released on Tuesday.

A number of other analysts have also weighed in on ICE. Deutsche Bank AG reissued a buy rating and issued a $66.00 price target (down previously from $67.00) on shares of Intercontinental Exchange in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a buy rating and issued a $70.00 price objective on shares of Intercontinental Exchange in a research note on Monday, June 26th. Zacks Investment Research raised shares of Intercontinental Exchange from a hold rating to a buy rating and set a $74.00 price objective on the stock in a research note on Thursday, July 13th. BidaskClub cut shares of Intercontinental Exchange from a buy rating to a hold rating in a research note on Wednesday, July 12th. Finally, Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a neutral rating and a $67.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $68.36.

Shares of Intercontinental Exchange (NYSE ICE) opened at 64.59 on Tuesday. The company has a 50-day moving average price of $65.84 and a 200 day moving average price of $61.74. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 23.93 and a beta of 0.71. Intercontinental Exchange has a one year low of $52.27 and a one year high of $67.48.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. On average, analysts forecast that Intercontinental Exchange will post $2.95 EPS for the current fiscal year.

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In related news, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $60.37, for a total transaction of $905,550.00. Following the completion of the transaction, the insider now directly owns 384,971 shares in the company, valued at approximately $23,240,699.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 73,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $59.91, for a total transaction of $4,395,836.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,024 shares of company stock valued at $9,732,522. 1.50% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. boosted its position in shares of Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after buying an additional 32 shares during the period. IHT Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 10.8% in the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after buying an additional 18 shares during the period. Norway Savings Bank boosted its position in shares of Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after buying an additional 235 shares during the period. Bessemer Group Inc. boosted its position in shares of Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter valued at about $128,000. Institutional investors and hedge funds own 89.38% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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