Why Has Barclays Capital Given Intercontinental Exchange (NYSE:ICE) a $278.00 Price Target
Barclays Capital has just issued a “Overweight” rating for Intercontinental Exchange (NYSE:ICE) shares. The firm launched coverage on shares of ICE in analysts report disseminated on Tuesday morning. This target price per share would now indicate upside of 11.68% from the last close price of Intercontinental Exchange (NYSE:ICE).
From a total of 11 analysts covering Intercontinental Exchange (NYSE:ICE) stock, 10 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 77% of the ratings are positive. The highest target price is $302 while the lowest target price is $250. The mean of all analyst targets is $284.55 with a 12.19% above today’s ($249.87) stock price. Intercontinental Exchange was the topic of 16 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets initiated shares on December 9 with “Sector Perform” rating. Standpoint Research maintained ICE stock in a recent report from August 9 with “Hold” rating.
Approximately 619,613 shares of stock traded hands or 6.22% up from the average. Intercontinental Exchange Inc (NYSE:ICE) has risen 2.35% since May 12, 2015 and is uptrending. It has outperformed by 6.03% the S&P500.
The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 0.01, from 1.01 in 2015Q2. The ratio worsened, as 62 institutions have sold all the shares of Intercontinental Exchange Inc that they owned while 187 funds have taken shares off the table. 58 funds have purchased shares for the first time while 190 added to their positions. These institutions now hold 95.85 million shares or 0.17% less than the 96.01 million shares they owned in 2015Q2.
The Fund Hengistbury Investment Partners Llp currently is holding shares equating to 14.05% of its total portfolio in Intercontinental Exchange Inc representing a total of 130,275 shares. Another fund,Cortland Associates Inc Mo, is holding a total of 118,779 shares equating to 6.48% of their holdings. Additionally, Carmignac Gestion has a 1.92 million share stake in Intercontinental Exchange Inc which represents 5.73% of their total portfolio. The Fund, Highline Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 5.65% of their total portfolio. Finally Cantillon Capital Management Llc, a fund which is based in the state of New York reported a total holdings of 1.06 million shares.
Intercontinental Exchange, Inc. is a global operator of regulated exchanges, clearing houses and data services for financial and commodity markets. The company has a market cap of $26.95 billion. The Firm operates marketplaces for trading and clearing an array of securities and derivatives contracts across asset classes, including energy and agricultural commodities, equities and equity derivatives, among others. It has 23.57 P/E ratio. The Company’s regulated exchanges include futures exchanges in the United States, United Kingdom, Canada, Singapore and Europe, three securities exchanges and two equity options exchanges.
According to Zacks Investment Research, “IntercontinentalExchange Group, Inc. is the leading network of regulated exchanges and clearing houses for financial and commodity markets. It delivers 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. The Company offers access to contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including cocoa, coffee, cotton, orange juice, and sugar. IntercontinentalExchange Group, Inc., formerly known as IntercontinentalExchange, Inc., is based in Atlanta, Georgia.”