Intercontinental Exchange’s (ICE) Buy Rating Reiterated at Rosenblatt Securities

Intercontinental Exchange (NYSE:ICE)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a report issued on Friday, Benzinga reports. They presently have a $164.00 price objective on the financial services provider’s stock. Rosenblatt Securities’ price target indicates a potential upside of 26.60% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Raymond James upped their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America dropped their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.31.

Intercontinental Exchange Stock Up 2.4 %

Shares of Intercontinental Exchange stock traded up $3.00 on Friday, hitting $129.54. 301,450 shares of the company traded hands, compared to its average volume of 2,381,848. The company has a 50-day moving average price of $135.17 and a 200 day moving average price of $125.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange has a 12-month low of $103.81 and a 12-month high of $140.43. The company has a market cap of $74.18 billion, a PE ratio of 30.85, a PEG ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Sell-side analysts predict that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the sale, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,832 shares of company stock valued at $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of ICE. Comprehensive Financial Consultants Institutional Inc. increased its stake in Intercontinental Exchange by 4.3% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 14,676 shares of the financial services provider’s stock valued at $2,017,000 after acquiring an additional 600 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Intercontinental Exchange in the 1st quarter valued at approximately $2,177,000. Nikko Asset Management Americas Inc. raised its stake in shares of Intercontinental Exchange by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 154,542 shares of the financial services provider’s stock valued at $21,239,000 after acquiring an additional 30,920 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Intercontinental Exchange by 12.4% in the first quarter. Financial Counselors Inc. now owns 4,384 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 485 shares during the last quarter. Finally, Magnolia Capital Advisors LLC increased its holdings in Intercontinental Exchange by 24.3% in the first quarter. Magnolia Capital Advisors LLC now owns 7,939 shares of the financial services provider’s stock valued at $1,042,000 after purchasing an additional 1,550 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.