Recent Research Analysts’ Ratings Changes for Intercontinental Exchange (ICE)

Intercontinental Exchange (NYSE: ICE) has recently received a number of price target changes and ratings updates:

  • 9/27/2018 – Intercontinental Exchange had its price target raised by analysts at Deutsche Bank AG from $82.00 to $83.00. They now have a “buy” rating on the stock.
  • 9/20/2018 – Intercontinental Exchange was given a new $92.00 price target on by analysts at Berenberg Bank. They now have a “buy” rating on the stock.
  • 9/19/2018 – Intercontinental Exchange was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Intercontinental Exchange’s successful integration of acquisitions, achievement of cost synergies and a reduced debt level well poise ICE for long-term growth. Moreover, a continued strength in its energy franchise, improving recurring market data revenues (2018 revenues to grow 5-6%) and ongoing initiatives should keep growth on track. However, rising expenses, foreign currency fluctuations and stricter regulations raise concerns. The company estimates 2018 operating expenses in the range of $2.04-$2.05 billion and adjusted operating expense in the band of $2-$2.04 billion. Interest expenses are anticipated at $97 million for the third quarter and at $73 million for fourth-quarter 2018. Shares of Intercontinental Exchange have underperformed the industry in a year’s time.”
  • 9/12/2018 – Intercontinental Exchange was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Intercontinental Exchange’s successful integration of acquisitions, achievement of cost synergies and a reduced debt level well poise ICE for long-term growth. Moreover, a continued strength in its energy franchise, improving recurring market data revenues (2018 revenues to grow 5-6%) and ongoing initiatives should keep growth on track. However, rising expenses, foreign currency fluctuations and stricter regulations raise concerns. The company estimates 2018 operating expenses in the range of $2.04-$2.05 billion and adjusted operating expense in the band of $2-$2.04 billion. Interest expenses are anticipated at $97 million for the third quarter and at $73 million for fourth-quarter 2018. Shares of Intercontinental Exchange have underperformed the industry year to date.”
  • 9/7/2018 – Intercontinental Exchange was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/6/2018 – Intercontinental Exchange was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Intercontinental Exchange have underperformed the industry year to date. Rising expenses, foreign currency fluctuations and stricter regulations raise concerns. The company estimates 2018 operating expenses in the range of $2.04-$2.05 billion and adjusted operating expense in the band of $2-$2.04 billion. Interest expenses are anticipated at $97 million for the third quarter and at $73 million for fourth-quarter 2018. Nonetheless, Intercontinental Exchange’s successful integration of acquisitions, achievement of cost synergies and a reduced debt level well poise ICE for long-term growth. Moreover, a continued strength in its energy franchise, improving recurring market data revenues (2018 revenues to grow 5-6%) and ongoing initiatives should keep growth on track.”
  • 9/5/2018 – Intercontinental Exchange is now covered by analysts at Rosenblatt Securities. They set a “buy” rating and a $88.00 price target on the stock.
  • 9/5/2018 – Intercontinental Exchange is now covered by analysts at FIX. They set a “buy” rating and a $88.00 price target on the stock.

NYSE ICE opened at $75.18 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98. Intercontinental Exchange Inc has a 12-month low of $64.91 and a 12-month high of $78.48. The firm has a market capitalization of $43.79 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 2.23 and a beta of 0.64.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts anticipate that Intercontinental Exchange Inc will post 3.48 EPS for the current year.

In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange stock in a transaction on Friday, July 6th. The shares were sold at an average price of $73.17, for a total value of $2,560,950.00. Following the transaction, the insider now directly owns 384,017 shares of the company’s stock, valued at $28,098,523.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark Wassersug sold 7,898 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.79, for a total transaction of $614,385.42. Following the sale, the chief operating officer now directly owns 36,977 shares in the company, valued at $2,876,440.83. The disclosure for this sale can be found here. Insiders sold 299,017 shares of company stock worth $22,391,283 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Kaizen Advisory LLC grew its holdings in shares of Intercontinental Exchange by 143.4% during the second quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock valued at $100,000 after buying an additional 799 shares during the last quarter. Quad Cities Investment Group LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $104,000. Sun Life Financial INC grew its holdings in shares of Intercontinental Exchange by 717.7% during the second quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,378 shares during the last quarter. Townsend & Associates Inc grew its holdings in shares of Intercontinental Exchange by 894.0% during the second quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1,484 shares during the last quarter. Finally, Institutional & Family Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the first quarter valued at $128,000. 88.48% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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