Intercontinental Exchange (NYSE:ICE) Upgraded 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 published on Monday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $167.00 target price on the financial services provider’s stock, up from their previous target price of $143.00.

Other analysts also recently issued reports about the stock. Rosenblatt Securities restated a buy rating and issued a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. StockNews.com lowered Intercontinental Exchange from a hold rating to a sell rating in a research note on Friday, May 31st. Bank of America cut their target price on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Finally, Citigroup boosted their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of Moderate Buy and an average price target of $151.29.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $141.16 on Monday. The company has a market capitalization of $80.97 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.62 and a beta of 1.06. The business’s 50-day moving average is $134.96 and its 200 day moving average is $133.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $141.59.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company earned $1.41 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange will post 5.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of Intercontinental Exchange stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the transaction, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders sold a total of 4,506 shares of company stock valued at $609,374 in the last three months. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently modified their holdings of the business. Beese Fulmer Investment Management Inc. increased its holdings in shares of Intercontinental Exchange by 1.9% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 96,782 shares of the financial services provider’s stock valued at $13,248,000 after acquiring an additional 1,790 shares during the period. GAMMA Investing LLC boosted its position in Intercontinental Exchange by 57.0% during the second quarter. GAMMA Investing LLC now owns 6,173 shares of the financial services provider’s stock valued at $845,000 after purchasing an additional 2,240 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in Intercontinental Exchange by 23.2% in the second quarter. Transcend Capital Advisors LLC now owns 18,312 shares of the financial services provider’s stock valued at $2,507,000 after purchasing an additional 3,445 shares during the last quarter. Cullen Investment Group LTD. raised its holdings in Intercontinental Exchange by 1.6% in the second quarter. Cullen Investment Group LTD. now owns 13,207 shares of the financial services provider’s stock worth $1,808,000 after purchasing an additional 211 shares in the last quarter. Finally, SRN Advisors LLC lifted its position in shares of Intercontinental Exchange by 10.3% during the first quarter. SRN Advisors LLC now owns 9,672 shares of the financial services provider’s stock valued at $1,329,000 after buying an additional 902 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

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.