Intercontinental Exchange (NYSE:ICE) Stock Rating Lowered by StockNews.com

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

Several other research analysts have also commented on ICE. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley raised their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Trading Down 0.1 %

Shares of Intercontinental Exchange stock opened at $160.96 on Wednesday. The company’s 50-day moving average price is $160.62 and its 200-day moving average price is $151.85. The company has a market cap of $92.42 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.66 and a beta of 1.08. Intercontinental Exchange has a 12-month low of $111.82 and a 12-month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,696 shares of company stock valued at $1,554,559 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its holdings in shares of 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 valued at $25,000 after buying an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $26,000. 89.30% of the stock is owned by institutional investors.

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.