Intercontinental Exchange (NYSE:ICE) Lowered to “Outperform” at Raymond James

Intercontinental Exchange (NYSE:ICE) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research report issued on Monday, Briefing.com reports. They presently have a $185.00 price target on the financial services provider’s stock. Raymond James’ target price would suggest a potential upside of 13.80% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays upped their price target on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, October 4th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $170.67.

Intercontinental Exchange Stock Up 1.2 %

ICE stock opened at $162.57 on Monday. The company has a market cap of $93.25 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $164.18. The company has a fifty day moving average price of $159.19 and a 200 day moving average price of $145.34.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Sell-side analysts expect that Intercontinental Exchange will post 6.08 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,532 shares of company stock worth $1,507,309 in the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $37,000. Fisher Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $317,000. HighPoint Advisor Group LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $1,383,000. Finally, Trust Co. of Toledo NA OH increased its stake in shares of Intercontinental Exchange by 9.2% in the first quarter. Trust Co. of Toledo NA OH now owns 29,097 shares of the financial services provider’s stock worth $3,999,000 after buying an additional 2,450 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.