BidaskClub downgraded shares of Intercontinental Exchange Inc. (NYSE:ICE) from a buy rating to a hold rating in a research report report published on Wednesday morning.
Other research analysts also recently issued research reports about the stock. Deutsche Bank AG restated a buy rating and set a $66.00 price objective (down previously from $67.00) on shares of Intercontinental Exchange in a report on Monday, May 15th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a sell rating to a hold rating in a report on Tuesday, April 11th. Keefe, Bruyette & Woods restated a buy rating and set a $63.50 price objective on shares of Intercontinental Exchange in a report on Thursday, March 23rd. Jefferies Group LLC restated a buy rating and set a $70.00 price objective on shares of Intercontinental Exchange in a report on Monday, June 26th. Finally, Royal Bank Of Canada set a $65.00 price objective on shares of Intercontinental Exchange and gave the stock a hold rating in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $67.49.
Shares of Intercontinental Exchange (NYSE:ICE) opened at 65.82 on Wednesday. Intercontinental Exchange has a 52 week low of $52.15 and a 52 week high of $67.33. The firm has a market capitalization of $7.57 billion, a P/E ratio of 25.41 and a beta of 0.71. The stock’s 50 day moving average price is $62.12 and its 200 day moving average price is $59.66.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Intercontinental Exchange had a net margin of 26.48% and a return on equity of 10.67%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $3.68 EPS. On average, analysts predict that Intercontinental Exchange will post $3.01 EPS for the current fiscal year.
In related news, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $66.33, for a total value of $994,950.00. Following the sale, the insider now owns 384,971 shares of the company’s stock, valued at $25,535,126.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 3,365 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $58.65, for a total transaction of $197,357.25. The disclosure for this sale can be found here. In the last three months, insiders sold 168,889 shares of company stock worth $10,350,825. 1.50% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after buying an additional 33,898,484 shares during the last quarter. OppenheimerFunds Inc. raised its position in Intercontinental Exchange by 340.8% in the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock worth $337,737,000 after buying an additional 4,361,480 shares during the period. Macquarie Group Ltd. raised its position in Intercontinental Exchange by 379.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,398,113 shares of the financial services provider’s stock worth $191,722,000 after buying an additional 2,689,297 shares during the period. FMR LLC raised its position in Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after buying an additional 1,443,992 shares during the period. Finally, Vanguard Group Inc. raised its position in Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares during the period. 89.44% of the stock is currently owned by institutional investors and hedge funds.
About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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