Intercontinental Exchange (NYSE:ICE) Upgraded to Hold at StockNews.com

Intercontinental Exchange (NYSE:ICE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other brokerages have also recently issued reports on ICE. Argus restated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods cut their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Citigroup boosted their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Barclays cut their price objective on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Finally, Bank of America cut their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $151.29.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $141.14 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market cap of $80.96 billion, a P/E ratio of 32.31, a PEG ratio of 2.55 and a beta of 1.06. The company has a 50-day moving average of $134.79 and a two-hundred day moving average of $133.12. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $141.59.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, research analysts predict that Intercontinental Exchange will post 5.96 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Judith A. Sprieser sold 2,267 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the transaction, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,506 shares of company stock valued at $609,374. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Capital World Investors boosted its position in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC boosted its position in shares of Intercontinental Exchange by 23.8% during the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after purchasing an additional 1,621,737 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $839,259,000. Institutional investors own 89.30% of the company’s stock.

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.