Intercontinental Exchange’s (ICE) Buy Rating Reaffirmed at Rosenblatt Securities

Intercontinental Exchange (NYSE:ICE)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a note issued to investors on Tuesday, AnalystRatings.com reports. They presently have a $108.00 target price on the financial services provider’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 7.43% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Loop Capital started coverage on shares of Intercontinental Exchange in a report on Friday. They set a “buy” rating for the company. Piper Sandler lifted their price target on Intercontinental Exchange from $105.00 to $117.00 in a research note on Friday, September 4th. Citigroup boosted their price objective on Intercontinental Exchange from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a report on Tuesday, August 11th. Finally, UBS Group decreased their price target on Intercontinental Exchange from $116.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $105.33.

Intercontinental Exchange stock traded up $0.07 during mid-day trading on Tuesday, reaching $100.53. The stock had a trading volume of 2,994,400 shares, compared to its average volume of 3,594,302. The firm has a market capitalization of $54.54 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. Intercontinental Exchange has a fifty-two week low of $63.51 and a fifty-two week high of $106.99. The stock’s 50-day simple moving average is $100.73 and its 200-day simple moving average is $92.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 14.18% and a net margin of 29.01%. Intercontinental Exchange’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. On average, research analysts forecast that Intercontinental Exchange will post 4.38 earnings per share for the current fiscal year.

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 100,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $95.54, for a total value of $9,554,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark Wassersug sold 2,344 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $99.33, for a total value of $232,829.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,813 shares of company stock valued at $16,212,323. 1.50% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. Spears Abacus Advisors LLC grew its position in shares of Intercontinental Exchange by 265.1% in the second quarter. Spears Abacus Advisors LLC now owns 212,493 shares of the financial services provider’s stock valued at $19,464,000 after purchasing an additional 154,287 shares in the last quarter. Jackson Wealth Management LLC lifted its stake in Intercontinental Exchange by 7.0% in the 2nd quarter. Jackson Wealth Management LLC now owns 26,070 shares of the financial services provider’s stock worth $2,388,000 after purchasing an additional 1,707 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its holdings in Intercontinental Exchange by 46.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 3,945 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 1,260 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Intercontinental Exchange by 89.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 30,935 shares of the financial services provider’s stock valued at $2,834,000 after purchasing an additional 14,594 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its stake in Intercontinental Exchange by 8.0% during the first quarter. Atlanta Capital Management Co. L L C now owns 1,979,917 shares of the financial services provider’s stock valued at $159,878,000 after buying an additional 146,264 shares during the period. Institutional investors own 87.13% of the company’s stock.

Intercontinental Exchange Company Profile

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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