Intercontinental Exchange (NYSE:ICE) Cut to “Outperform” at Raymond James

by · The Markets Daily

Raymond James downgraded shares of Intercontinental Exchange (NYSE:ICE – Free Report) from a strong-buy rating to an outperform rating in a research note published on Monday morning, Marketbeat.com reports. The firm currently has $185.00 target price on the financial services provider’s stock.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America increased their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, October 4th. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $172.80.

Check Out Our Latest Report on Intercontinental Exchange

Intercontinental Exchange Stock Performance

ICE opened at $164.80 on Monday. 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’s fifty day moving average price is $160.30 and its two-hundred day moving average price is $145.99. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $167.23. The company has a market cap of $94.53 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.43 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange will post 6.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,532 shares of company stock worth $1,358,709 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

A number of large investors have recently modified their holdings of ICE. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $37,000. Fisher Asset Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $317,000. HighPoint Advisor Group LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $1,383,000. Finally, Trust Co. of Toledo NA OH raised its stake in Intercontinental Exchange by 9.2% in the first quarter. Trust Co. of Toledo NA OH now owns 29,097 shares of the financial services provider’s stock valued at $3,999,000 after purchasing an additional 2,450 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

About Intercontinental Exchange

(Get Free Report)

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.

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