Intercontinental Exchange (NYSE:ICE) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a report released on Tuesday morning,Benzinga reports. They currently have a $200.00 target price on the financial services provider’s stock.

Several other equities analysts also recently issued reports on ICE. Barclays upped their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a report on Monday, December 9th. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Price Performance

Shares of ICE opened at $146.38 on Tuesday. The company has a 50 day moving average of $154.92 and a two-hundred day 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. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The company has a market cap 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,533 shares of company stock worth $1,196,279. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after acquiring an additional 3,460,096 shares during the period. FMR LLC lifted its holdings in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Intercontinental Exchange by 285.9% in the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after purchasing an additional 1,301,200 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Intercontinental Exchange by 426.3% during the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after purchasing an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC raised its position in shares of Intercontinental Exchange by 142.2% during the 2nd 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 currently 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.