Raymond James Raises Intercontinental Exchange (NYSE:ICE) Price Target to $185.00

Intercontinental Exchange (NYSE:ICE) had its target price hoisted by Raymond James from $174.00 to $185.00 in a research report report published on Friday morning, Benzinga reports. They currently have a strong-buy rating on the financial services provider’s stock.

A number of other analysts 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 target price on the stock. Bank of America upped their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an overweight rating in a report on Monday, September 16th. Keefe, Bruyette & Woods reissued an outperform rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of Intercontinental Exchange from a sell rating to a hold rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of Moderate Buy and a consensus price target of $168.60.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $159.54 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $164.18. The company’s 50 day moving average is $158.16 and its 200 day moving average is $144.48. The company has a market cap of $91.51 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (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 firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the company posted $1.43 earnings per share. The firm’s revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange will post 6.04 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,532 shares of company stock worth $1,507,309. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC lifted its stake in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Fairscale Capital LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter valued at about $25,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.