Intercontinental Exchange (NYSE:ICE) Now Covered by Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research report released on Friday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $200.00 price target on the financial services provider’s stock.

ICE has been the topic of several other research reports. TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday. They issued a buy rating and a $182.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an overweight rating in a research report on Monday, September 16th. Keefe, Bruyette & Woods restated an outperform rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup upped their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a hold rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $162.47.

Intercontinental Exchange Stock Up 0.3 %

NYSE:ICE opened at $158.62 on Friday. The stock has a fifty day simple moving average of $156.89 and a 200-day simple moving average of $143.54. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market cap of $90.98 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $163.71.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 EPS. Analysts anticipate that Intercontinental Exchange will post 6.04 EPS for the current year.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,268 shares of company stock valued at $9,508,809. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. Annapolis Financial Services LLC raised its position in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the last quarter. New Millennium Group LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter worth $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.