Intercontinental Exchange (NYSE:ICE) Coverage Initiated at TD Cowen

Equities research analysts at TD Cowen initiated coverage on shares of Intercontinental Exchange (NYSE:ICE - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The firm set a "buy" rating and a $182.00 price target on the financial services provider's stock. TD Cowen's price objective indicates a potential upside of 15.16% from the company's previous close.

A number of other research analysts have also recently commented on ICE. Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Barclays increased their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a "buy" rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $159.79.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded down $1.41 during trading on Thursday, hitting $158.04. The company's stock had a trading volume of 1,295,798 shares, compared to its average volume of 2,484,891. The company has a market cap of $90.74 billion, a PE ratio of 36.42, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $156.46 and a 200-day moving average of $143.20. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $163.71.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange's quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. As a group, research analysts anticipate that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 395 shares of the business's stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business's stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the company's stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. Insiders sold 66,268 shares of company stock worth $9,508,809 over the last three months. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $25,000. Annapolis Financial Services LLC lifted its holdings in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $25,000. Finally, Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. 89.30% of the stock is 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.