Why Has RBC Capital Mkts Given IntercontinentalExchange (NYSE:ICE) a $266 Price Target
Research analysts at RBC Capital Mkts started coverage on shares of IntercontinentalExchange (NYSE:ICE) in a note sent to clients and investors on 9 December. The brokerage firm set Sector Perform rating on the stock. RBC Capital Mkts’s TP of $266 suggests potential of 1.85% from the stock’s closing share price.
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 8.02% above today’s ($261.18) stock price. Intercontinental Exchange was the topic of 15 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Argus Research downgraded shares on November 2 to “Hold” rating.
The stock closed the day at $261.18 during the previous session. It is down 14.93% since May 6, 2015 and is uptrending. It has outperformed by 15.72% 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 dropped, 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 $28.66 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 24.64 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.” Get a free copy of the Zacks research report on Intercontinental Exchange Inc (ICE).