Intercontinental Exchange (ICE) Given a $80.00 Price Target at Citigroup

Share on StockTwits

Intercontinental Exchange (NYSE:ICE) received a $80.00 price target from investment analysts at Citigroup in a research report issued on Thursday. The firm presently has a “hold” rating on the financial services provider’s stock. Citigroup’s target price points to a potential upside of 5.17% from the company’s previous close.

A number of other brokerages have also recently weighed in on ICE. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. FIX started coverage on shares of Intercontinental Exchange in a research note on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price objective for the company. Barclays boosted their price objective on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Berenberg Bank set a $92.00 price objective on shares of Intercontinental Exchange and gave the stock a “buy” rating in a research note on Thursday, September 20th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.67.

ICE stock traded down $0.97 during trading hours on Thursday, hitting $76.07. The company’s stock had a trading volume of 100,455 shares, compared to its average volume of 3,203,641. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. Intercontinental Exchange has a 12 month low of $65.14 and a 12 month high of $78.48. The company has a market capitalization of $41.92 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 2.15 and a beta of 0.65.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $0.73 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange will post 3.45 EPS for the current fiscal year.

In related news, insider David S. Goone sold 10,402 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $78.01, for a total transaction of $811,460.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $72.59, for a total transaction of $2,540,650.00. Following the transaction, the insider now owns 419,907 shares of the company’s stock, valued at $30,481,049.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,819 shares of company stock valued at $21,703,215. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Kaizen Advisory LLC raised its stake in shares of Intercontinental Exchange by 143.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock valued at $100,000 after buying an additional 799 shares in the last quarter. Quad Cities Investment Group LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $104,000. Sun Life Financial INC raised its stake in shares of Intercontinental Exchange by 717.7% in the 2nd quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,378 shares in the last quarter. Townsend & Associates Inc raised its stake in shares of Intercontinental Exchange by 894.0% in the 2nd quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1,484 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Intercontinental Exchange by 5,968.0% in the 1st quarter. Summit Trail Advisors LLC now owns 144,662 shares of the financial services provider’s stock valued at $145,000 after buying an additional 142,278 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Further Reading: How is Preferred Stock Different from Common Stock?

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply