Intercontinental Exchange (NYSE:ICE) Earns Outperform Rating from Royal Bank of Canada

Intercontinental Exchange (NYSE:ICE)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $200.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 36.45% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.01 during trading hours on Tuesday, reaching $146.57. The stock had a trading volume of 353,757 shares, compared to its average volume of 1,781,255. The stock’s 50 day moving average is $155.33 and its 200 day moving average is $155.21. The company has a current ratio of 1.00, a quick 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 firm has a market capitalization of $84.16 billion, a PE ratio of 34.73, a PEG ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock worth $1,196,279 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently modified their holdings of the company. State Street Corp increased its holdings in Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares in the last quarter. FMR LLC increased its holdings in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after acquiring an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other 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.