Rosenblatt Securities Boosts Intercontinental Exchange (NYSE:ICE) Price Target to $104.00

Intercontinental Exchange (NYSE:ICE) had its price target boosted by Rosenblatt Securities from $102.00 to $104.00 in a report published on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the financial services provider’s stock.

ICE has been the subject of a number of other reports. Berenberg Bank raised shares of Intercontinental Exchange from a hold rating to a buy rating and upped their price target for the company from $101.00 to $106.00 in a report on Monday, April 20th. UBS Group cut their target price on shares of Intercontinental Exchange from $116.00 to $114.00 and set a buy rating for the company in a research note on Thursday, June 4th. Deutsche Bank reduced their target price on shares of Intercontinental Exchange from $114.00 to $111.00 and set a buy rating for the company in a report on Thursday, July 9th. Citigroup upped their price target on Intercontinental Exchange from $102.00 to $107.00 and gave the company a buy rating in a report on Monday, July 20th. Finally, Wells Fargo & Co reissued a buy rating on shares of Intercontinental Exchange in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intercontinental Exchange currently has an average rating of Buy and a consensus price target of $103.64.

Shares of Intercontinental Exchange stock traded up $2.41 on Friday, hitting $96.78. The company had a trading volume of 3,423,695 shares, compared to its average volume of 2,451,413. The company has a market cap of $51.64 billion, a PE ratio of 25.07, a PEG ratio of 2.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 52 week low of $63.51 and a 52 week high of $101.93. The business has a 50-day simple moving average of $93.21 and a 200-day simple moving average of $91.48.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Intercontinental Exchange had a return on equity of 14.14% and a net margin of 29.01%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. On average, equities research analysts predict that Intercontinental Exchange will post 4.42 earnings per share for the current fiscal year.

In other news, Director William Jefferson Hague sold 733 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $96.32, for a total transaction of $70,602.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mark Wassersug sold 2,448 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $92.68, for a total transaction of $226,880.64. The disclosure for this sale can be found here. Insiders sold 111,486 shares of company stock valued at $10,632,325 over the last three months. 1.50% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Ellevest Inc. lifted its holdings in shares of Intercontinental Exchange by 148.7% during the 2nd quarter. Ellevest Inc. now owns 286 shares of the financial services provider’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Fortis Advisors LLC bought a new position in Intercontinental Exchange during the first quarter valued at approximately $33,000. Harvest Group Wealth Management LLC raised its position in Intercontinental Exchange by 72.3% during the second quarter. Harvest Group Wealth Management LLC now owns 448 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 188 shares in the last quarter. Community Bank N.A. acquired a new stake in Intercontinental Exchange in the second quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC bought a new stake in Intercontinental Exchange in the first quarter worth approximately $45,000. 87.47% of the stock is currently owned by institutional investors.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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