IntercontinentalExchange Group Inc. (ICE) Shares Gap Up to $262.44
IntercontinentalExchange Group Inc. (NYSE:ICE)’s share price gapped up before the market opened on Friday . The stock had previously closed at $262.42, but opened at $262.44. IntercontinentalExchange Group shares last traded at $263.44, with a volume of 104,512 shares changing hands.
Several equities analysts have issued reports on ICE shares. Keefe, Bruyette & Woods decreased their price objective on shares of IntercontinentalExchange Group from $290.00 to $286.00 and set an “outperform” rating on the stock in a report on Friday, April 8th. Zacks Investment Research downgraded shares of IntercontinentalExchange Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Deutsche Bank AG started coverage on shares of IntercontinentalExchange Group in a report on Thursday, May 5th. They set a “buy” rating and a $295.00 price objective on the stock. Argus increased their price objective on shares of IntercontinentalExchange Group from $270.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $305.00 price objective on shares of IntercontinentalExchange Group in a report on Friday, May 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. IntercontinentalExchange Group has an average rating of “Buy” and an average price target of $283.83.
The stock has a market capitalization of $30.28 billion and a PE ratio of 22.53. The stock has a 50 day moving average of $257.67 and a 200-day moving average of $249.10.
IntercontinentalExchange Group (NYSE:ICE) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $3.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.65 by $0.03. During the same period last year, the company earned $3.06 earnings per share. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. The business’s revenue for the quarter was up 35.8% compared to the same quarter last year. On average, equities analysts predict that IntercontinentalExchange Group Inc. will post $13.90 EPS for the current year.
In other news, CEO Jeffrey C. Sprecher sold 24,606 shares of the company’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $251.95, for a total transaction of $6,199,481.70. Following the transaction, the chief executive officer now directly owns 313,444 shares of the company’s stock, valued at approximately $78,972,215.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas W. Farley sold 755 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $253.18, for a total transaction of $191,150.90. The disclosure for this sale can be found here.
Several institutional investors recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in IntercontinentalExchange Group by 3.0% in the fourth quarter. Toronto Dominion Bank now owns 4,140 shares of the company’s stock worth $1,062,000 after buying an additional 122 shares during the period. Stephens Inc. AR bought a new position in IntercontinentalExchange Group during the fourth quarter worth $1,148,000. Montag & Caldwell LLC boosted its position in IntercontinentalExchange Group by 2.0% in the fourth quarter. Montag & Caldwell LLC now owns 4,580 shares of the company’s stock worth $1,174,000 after buying an additional 89 shares during the period. Victory Capital Management Inc. boosted its position in IntercontinentalExchange Group by 50.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,036 shares of the company’s stock worth $1,291,000 after buying an additional 1,685 shares during the period. Finally, Trexquant Investment LP bought a new position in IntercontinentalExchange Group during the fourth quarter worth $1,409,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.