Intercontinental Exchange Inc. (ICE) PT Raised to $76.00 at Royal Bank Of Canada

Intercontinental Exchange Inc. (NYSE:ICE) had its target price increased by analysts at Royal Bank Of Canada from $70.00 to $76.00 in a report issued on Monday. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 9.53% from the stock’s current price.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Thursday, July 13th. BidaskClub lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Barclays PLC lifted their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. Finally, Wells Fargo & Company lifted their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.44.

Intercontinental Exchange (ICE) opened at 69.39 on Monday. The stock’s 50 day moving average is $67.21 and its 200-day moving average is $64.01. The firm has a market capitalization of $7.98 billion, a PE ratio of 25.71 and a beta of 0.74. Intercontinental Exchange has a 1-year low of $52.27 and a 1-year high of $71.24.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. Intercontinental Exchange’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. Equities research analysts forecast that Intercontinental Exchange will post $2.95 EPS for the current year.

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In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the transaction, the insider now owns 382,471 shares of the company’s stock, valued at approximately $25,598,784.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Hill sold 37,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders sold a total of 155,550 shares of company stock worth $10,394,455 in the last three months. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ICE. BlackRock Inc. increased its stake in Intercontinental Exchange by 2,943.4% in the 1st quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after purchasing an additional 33,898,484 shares in the last quarter. Janus Henderson Group PLC increased its stake in Intercontinental Exchange by 1,254.2% in the 2nd quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock worth $596,480,000 after purchasing an additional 8,380,362 shares in the last quarter. Northern Trust Corp increased its stake in Intercontinental Exchange by 19.9% in the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock worth $748,538,000 after purchasing an additional 1,883,432 shares in the last quarter. Prudential PLC increased its stake in Intercontinental Exchange by 39,517.6% in the 2nd quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider

Other research analysts have also issued reports about the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Thursday, July 13th. BidaskClub lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Barclays PLC lifted their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. Finally, Wells Fargo & Company lifted their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.44.

Intercontinental Exchange (ICE) opened at 69.39 on Monday. The stock’s 50 day moving average is $67.21 and its 200-day moving average is $64.01. The firm has a market capitalization of $7.98 billion, a PE ratio of 25.71 and a beta of 0.74. Intercontinental Exchange has a 1-year low of $52.27 and a 1-year high of $71.24.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. Intercontinental Exchange’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. Equities research analysts forecast that Intercontinental Exchange will post $2.95 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://ledgergazette.com/2017/10/16/intercontinental-exchange-inc-ice-pt-raised-to-76-00-at-royal-bank-of-canada.html.

In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the transaction, the insider now owns 382,471 shares of the company’s stock, valued at approximately $25,598,784.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Hill sold 37,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders sold a total of 155,550 shares of company stock worth $10,394,455 in the last three months. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ICE. BlackRock Inc. increased its stake in Intercontinental Exchange by 2,943.4% in the 1st quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after purchasing an additional 33,898,484 shares in the last quarter. Janus Henderson Group PLC increased its stake in Intercontinental Exchange by 1,254.2% in the 2nd quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock worth $596,480,000 after purchasing an additional 8,380,362 shares in the last quarter. Northern Trust Corp increased its stake in Intercontinental Exchange by 19.9% in the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock worth $748,538,000 after purchasing an additional 1,883,432 shares in the last quarter. Prudential PLC increased its stake in Intercontinental Exchange by 39,517.6% in the 2nd quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock worth $97,647,000 after purchasing an additional 1,477,562 shares in the last quarter. Finally, BT Investment Management Ltd purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $97,240,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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