Intercontinental Exchange (NYSE:ICE) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research report sent to investors on Monday.

ICE has been the subject of a number of other reports. Barclays lifted their price target on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Citigroup increased their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $172.80.

Intercontinental Exchange Stock Performance

ICE opened at $166.37 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day simple moving average of $160.80 and a 200 day simple moving average of $146.53. Intercontinental Exchange has a 1 year low of $104.49 and a 1 year high of $167.23. The company has a market capitalization of $95.43 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. Research analysts expect that Intercontinental Exchange will post 6.08 EPS for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,532 shares of company stock valued at $1,358,709 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC grew its stake in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Annapolis Financial Services LLC lifted its position in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the period. Finally, New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.