Royal Bank of Canada Reiterates “Outperform” Rating for Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange (NYSE:ICE)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $200.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 28.34% from the stock’s current price.

ICE has been the subject of a number of other research reports. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Barclays raised their price objective on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Trading Down 0.0 %

NYSE ICE traded down $0.04 during trading hours on Friday, reaching $155.83. The company’s stock had a trading volume of 1,719,849 shares, compared to its average volume of 2,533,322. The stock has a market cap of $89.47 billion, a P/E ratio of 38.57, a P/E/G ratio of 2.51 and a beta of 1.08. The firm has a fifty day simple moving average of $162.09 and a 200-day simple moving average of $148.03. 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 52 week low of $104.91 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Equities analysts forecast that Intercontinental Exchange will post 6.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the transaction, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the transaction, the director now owns 3,958 shares in the company, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds have recently made changes to their positions in ICE. Norden Group LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $487,000. Mission Wealth Management LP bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $866,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Intercontinental Exchange by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,401 shares of the financial services provider’s stock worth $13,523,000 after purchasing an additional 4,317 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Intercontinental Exchange by 3.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 66,809 shares of the financial services provider’s stock worth $9,182,000 after purchasing an additional 2,255 shares during the period. Finally, Resonant Capital Advisors LLC raised its stake in shares of Intercontinental Exchange by 4.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,587 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 102 shares during the period. 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.