Intercontinental Exchange (NYSE:ICE) Now Covered by TD Cowen

Stock analysts at TD Cowen began coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $182.00 price target on the financial services provider’s stock. TD Cowen’s price target suggests a potential upside of 14.73% from the company’s current price.

Other analysts also recently issued reports about the stock. Barclays increased their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $162.47.

Intercontinental Exchange Stock Up 0.3 %

Shares of NYSE ICE opened at $158.64 on Thursday. The firm has a market capitalization of $90.99 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. 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 1 year low of $104.49 and a 1 year high of $163.71. The firm’s 50-day moving average is $156.67 and its 200-day moving average is $143.31.

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, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 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 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Equities analysts expect that Intercontinental Exchange will post 6.04 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders sold 66,268 shares of company stock valued at $9,508,809 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. Annapolis Financial Services LLC boosted its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the first quarter worth $26,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Company Profile

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.