KBW Keeps Their Buy Rating on Intercontinental Exchange (ICE)
In a report issued on October 10, Kyle Voigt from KBW reiterated a Buy rating on Intercontinental Exchange (NYSE: ICE), with a price target of $85. The company’s shares closed yesterday at $72.49.
According to TipRanks.com, Voigt is a 4-star analyst with an average return of 13.7% and a 75.0% success rate. Voigt covers the Financial sector, focusing on stocks such as Marketaxess Holdings, Interactive Brokers, and CBOE Holdings.
Currently, the analyst consensus on Intercontinental Exchange is a Strong Buy with an average price target of $88.33.
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Based on Intercontinental Exchange’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.56 billion and net profit of $455 million. In comparison, last year the company earned revenue of $1.43 billion and had a net profit of $369 million.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ICE in relation to earlier this year. Most recently, in July 2018, Vice Charles A, the Vice Chairman of ICE bought 2,400 shares for a total of $99,816.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Intercontinental Exchange, Inc. engages in the management of online marketplace. It operates through the Trading and Clearing; and Data and Listings segments. The Trading and Clearing segment offers transaction-based executions and clearing activities. The Data and Listings segment includes securities and subscription-based data services.