Intercontinental Exchange (NYSE:ICE) Upgraded to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Intercontinental Exchange (NYSE:ICE) from a neutral rating to a buy rating in a research note released on Monday morning, MarketBeat reports. The Goldman Sachs Group currently has $167.00 price objective on the financial services provider’s stock, up from their prior price objective of $143.00.

A number of other research firms have also weighed in on ICE. Barclays dropped their price objective on shares of Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, April 4th. Bank of America dropped their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research report on Friday, April 19th. Finally, Rosenblatt Securities reissued a buy rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $151.29.

Intercontinental Exchange Trading Up 0.0 %

NYSE:ICE opened at $136.93 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $78.54 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.55 and a beta of 1.06. The firm has a fifty day simple moving average of $134.52 and a two-hundred day simple moving average of $132.90. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Analysts expect that Intercontinental Exchange will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of Intercontinental Exchange stock in a transaction dated Thursday, April 25th. The stock was acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 62,894 shares of company stock worth $8,620,792. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently modified their holdings of the business. Nordea Investment Management AB grew its stake in Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares in the last quarter. Wellington Management Group LLP grew its stake in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. grew its stake in Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after acquiring an additional 1,991 shares in the last quarter. Point72 Europe London LLP grew its stake in Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Perpetual Ltd grew its stake in Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after acquiring an additional 6,272 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

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.