Intercontinental Exchange’s (ICE) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a research note published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $200.00 price target on the financial services provider’s stock.

A number of other research firms have also weighed in on ICE. Barclays boosted their price objective on Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Morgan Stanley upped 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. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.07.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $146.38 on Tuesday. The firm has a 50-day simple moving average of $154.92 and a 200-day simple moving average of $155.27. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $84.05 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The company 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 21.31% and a return on equity of 12.75%. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, equities analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the sale, the general counsel now owns 44,702 shares in the company, valued at $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,533 shares of company stock valued at $1,196,279. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently modified their holdings of ICE. Janus Henderson Group PLC increased its holdings in Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after buying an additional 3,460,096 shares during the last quarter. FMR LLC boosted its position in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after acquiring an additional 1,301,200 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after acquiring an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC lifted its stake in Intercontinental Exchange by 142.2% during the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after purchasing an additional 490,671 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other 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.