Intercontinental Exchange (NYSE:ICE) Price Target Raised to $94.00

Intercontinental Exchange (NYSE:ICE) had its target price lifted by Raymond James from $89.00 to $94.00 in a report issued on Friday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the financial services provider’s stock.

ICE has been the topic of a number of other research reports. Bank of America set a $85.00 price objective on Intercontinental Exchange and gave the stock a buy rating in a research note on Tuesday, April 9th. ValuEngine raised Intercontinental Exchange from a hold rating to a buy rating in a research note on Monday, May 13th. Wells Fargo & Co upped their price target on Intercontinental Exchange from $79.00 to $81.00 and gave the company a market perform rating in a research note on Thursday, April 4th. Zacks Investment Research lowered Intercontinental Exchange from a hold rating to a sell rating in a research note on Wednesday, April 10th. Finally, Deutsche Bank cut their price target on Intercontinental Exchange from $84.00 to $83.00 and set a buy rating on the stock in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. Intercontinental Exchange has an average rating of Buy and a consensus target price of $86.26.

Shares of NYSE:ICE opened at $89.41 on Friday. The company has a fifty day moving average of $84.88. Intercontinental Exchange has a fifty-two week low of $69.69 and a fifty-two week high of $89.59. The company has a market capitalization of $50.48 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.89 and a beta of 0.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.40.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.98%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Equities research analysts forecast that Intercontinental Exchange will post 3.76 earnings per share for the current fiscal year.

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,200 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $81.00, for a total value of $97,200.00. Following the transaction, the general counsel now owns 41,161 shares of the company’s stock, valued at $3,334,041. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Hill sold 11,675 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $80.02, for a total value of $934,233.50. Following the completion of the transaction, the chief financial officer now directly owns 173,430 shares in the company, valued at approximately $13,877,868.60. The disclosure for this sale can be found here. Insiders have sold 152,346 shares of company stock worth $12,582,509 in the last ninety days. 1.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. increased its holdings in shares of Intercontinental Exchange by 51.3% in the second quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 122 shares in the last quarter. Sontag Advisory LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $34,000. Pittenger & Anderson Inc. bought a new stake in shares of Intercontinental Exchange in the first quarter worth about $44,000. Resources Investment Advisors Inc. increased its holdings in shares of Intercontinental Exchange by 111.7% in the fourth quarter. Resources Investment Advisors Inc. now owns 635 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 335 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Intercontinental Exchange in the first quarter worth about $69,000. 88.97% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Exchange

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, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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