Keefe, Bruyette & Woods Increases Intercontinental Exchange (NYSE:ICE) Price Target to $101.00

Intercontinental Exchange (NYSE:ICE) had its target price boosted by research analysts at Keefe, Bruyette & Woods from $98.00 to $101.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 4.36% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Deutsche Bank dropped their target price on shares of Intercontinental Exchange from $114.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Barclays boosted their target price on shares of Intercontinental Exchange from $95.00 to $100.00 in a report on Friday, May 1st. Rosenblatt Securities boosted their target price on shares of Intercontinental Exchange from $102.00 to $104.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Co reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Thursday. Finally, Berenberg Bank raised Intercontinental Exchange from a “hold” rating to a “buy” rating and lifted their price target for the stock from $101.00 to $106.00 in a research report on Monday, April 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $103.64.

NYSE:ICE traded up $2.41 during trading hours on Friday, hitting $96.78. The company had a trading volume of 3,423,695 shares, compared to its average volume of 2,451,413. The company has a market capitalization of $52.96 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. The stock has a 50-day moving average price of $93.21 and a 200 day moving average price of $91.48. Intercontinental Exchange has a 52 week low of $63.51 and a 52 week high of $101.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Intercontinental Exchange had a net margin of 29.01% and a return on equity of 14.14%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. Analysts anticipate that Intercontinental Exchange will post 4.41 EPS for the current fiscal year.

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,305 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $92.40, for a total transaction of $397,782.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Jefferson Hague sold 733 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $96.32, for a total value of $70,602.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,486 shares of company stock worth $10,632,325. 1.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MBM Wealth Consultants LLC raised its position in Intercontinental Exchange by 2.8% in the first quarter. MBM Wealth Consultants LLC now owns 4,211 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 115 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Intercontinental Exchange by 1.7% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 7,452 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 125 shares during the period. Sequoia Financial Advisors LLC raised its position in Intercontinental Exchange by 3.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,621 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 129 shares during the period. AIA Investment Management Private Ltd raised its position in Intercontinental Exchange by 7.9% in the first quarter. AIA Investment Management Private Ltd now owns 1,772 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 129 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its position in Intercontinental Exchange by 1.3% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 12,255 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 155 shares during the period. 87.47% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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