Intercontinental Exchange (NYSE:ICE) Earns Outperform Rating from Royal Bank of Canada

Intercontinental Exchange (NYSE:ICE)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $200.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 36.66% from the stock’s current price.

A number of other research analysts also recently commented on ICE. Barclays increased their target price on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler raised their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $146.35 on Tuesday. The company has a market cap of $84.03 billion, a P/E ratio of 34.68, a PEG ratio of 2.57 and a beta of 1.10. The firm has a fifty day moving average price of $154.52 and a 200 day moving average price of $155.21. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS. Sell-side analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,533 shares of company stock worth $1,196,279 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Institutional investors have recently bought and sold shares of the company. Quintet Private Bank Europe S.A. boosted its position in shares of Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after buying an additional 62 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 63 shares in the last quarter. Integrated Advisors Network LLC grew its position in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in shares of Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 70 shares in the last quarter. Finally, Catalina Capital Group LLC raised its position in shares of Intercontinental Exchange by 3.9% during the 3rd quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other 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.