Intercontinental Exchange Inc. (NYSE:ICE) Given Average Rating of “Buy” by Brokerages

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have earned an average rating of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $194.70.

Several equities analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Wednesday. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares in the company, valued at approximately $3,948,787.20. This represents a 6.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the sale, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 176,150 shares of company stock valued at $27,072,531. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. AIA Group Ltd acquired a new position in Intercontinental Exchange during the third quarter valued at $3,654,000. Strategic Investment Advisors MI acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $356,000. Saranac Partners Ltd purchased a new stake in shares of Intercontinental Exchange in the third quarter worth about $6,850,000. Swiss Life Asset Management Ltd grew its holdings in Intercontinental Exchange by 4.3% during the third quarter. Swiss Life Asset Management Ltd now owns 101,668 shares of the financial services provider’s stock worth $17,129,000 after acquiring an additional 4,206 shares during the period. Finally, Strategic Advocates LLC purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $160.21 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $91.35 billion, a PE ratio of 29.18, a P/E/G ratio of 2.48 and a beta of 1.05. Intercontinental Exchange has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a fifty day moving average price of $155.10 and a 200-day moving average price of $169.44.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company posted $1.55 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.