Raymond James Downgrades Intercontinental Exchange (NYSE:ICE) to Outperform

Raymond James downgraded shares of Intercontinental Exchange (NYSE:ICE) from a strong-buy rating to an outperform rating in a report released on Monday, Marketbeat.com reports. They currently have $185.00 price objective on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an overweight rating in a report on Monday, September 16th. The Goldman Sachs Group increased their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a buy rating in a report on Thursday, October 3rd. Barclays increased their target price on Intercontinental Exchange from $167.00 to $179.00 and gave the stock an overweight rating in a report on Monday, October 7th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, 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. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of Moderate Buy and a consensus price target of $170.67.

Intercontinental Exchange Price Performance

NYSE ICE opened at $164.38 on Monday. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $164.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $94.29 billion, a PE ratio of 37.70, a P/E/G ratio of 2.62 and a beta of 1.08. The stock has a 50-day simple moving average of $159.50 and a 200 day simple moving average of $145.53.

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction 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 in the company, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction 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 owns 17,836 shares of the company’s stock, valued at $2,675,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,532 shares of company stock worth $1,507,309. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ICE. Scarborough Advisors LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth $25,000. Creekmur Asset Management LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $37,000. Fisher Asset Management LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $317,000. HighPoint Advisor Group LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $1,383,000. Finally, Trust Co. of Toledo NA OH grew its holdings in Intercontinental Exchange by 9.2% during the first quarter. Trust Co. of Toledo NA OH now owns 29,097 shares of the financial services provider’s stock worth $3,999,000 after purchasing an additional 2,450 shares during the period. Institutional investors and hedge funds 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.