Intercontinental Exchange (NYSE:ICE) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued an outperform rating and a $200.00 price objective on the financial services provider’s stock.

A number of other analysts have also recently commented on ICE. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a hold rating in a research report on Thursday, August 15th. Barclays increased their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price 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. StockNews.com downgraded shares of Intercontinental Exchange from a hold rating to a sell rating in a research report on Friday, September 6th. Finally, Citigroup boosted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $162.47.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $158.62 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average price of $156.89 and a 200-day moving average price of $143.54. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $163.71. The firm has a market capitalization of $90.98 billion, a PE ratio of 36.38, a P/E/G ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. As a group, equities research analysts expect that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,268 shares of company stock valued at $9,508,809. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Annapolis Financial Services LLC grew its position in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at approximately $25,000. Finally, Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Institutional investors own 89.30% of the company’s stock.

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.