TD Cowen Begins Coverage on Intercontinental Exchange (NYSE:ICE)

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

A number of other research firms also recently weighed in on ICE. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Barclays boosted their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $162.47.

Intercontinental Exchange Stock Up 0.3 %

ICE opened at $158.64 on Thursday. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $90.99 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.81 and a beta of 1.08. The stock has a fifty day moving average of $156.67 and a 200-day moving average of $143.31.

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

Insiders Place Their Bets

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

Institutional Trading of Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Heritage Wealth Management Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $627,000. Sanctuary Advisors LLC bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $7,978,000. Brown Financial Advisors bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $726,000. Clearbridge Investments LLC boosted its holdings in Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after acquiring an additional 284,664 shares during the last quarter. Finally, New Century Financial Group LLC boosted its holdings in Intercontinental Exchange by 38.6% in the second quarter. New Century Financial Group LLC now owns 2,247 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 626 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

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.