Intercontinental Exchange (NYSE:ICE) Downgraded by StockNews.com to Sell

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

A number of other research firms have also recently weighed in on ICE. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Raymond James cut 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. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.07.

Intercontinental Exchange Stock Down 0.1 %

NYSE ICE opened at $146.35 on Wednesday. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The stock has a market cap of $84.03 billion, a PE ratio of 34.68, a PEG ratio of 2.57 and a beta of 1.10. The firm has a 50-day simple moving average of $154.52 and a 200 day simple moving average of $155.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

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

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now owns 44,702 shares in the company, valued at $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,533 shares of company stock valued at $1,196,279 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in ICE. Victory Capital Management Inc. grew its stake in shares of Intercontinental Exchange by 17.0% during the second quarter. Victory Capital Management Inc. now owns 251,633 shares of the financial services provider’s stock worth $34,446,000 after purchasing an additional 36,616 shares during the period. Private Advisor Group LLC increased its stake in shares of Intercontinental Exchange by 11.4% in the 2nd quarter. Private Advisor Group LLC now owns 29,381 shares of the financial services provider’s stock valued at $4,022,000 after acquiring an additional 2,998 shares during the last quarter. Savant Capital LLC increased its stake in shares of Intercontinental Exchange by 3.9% in the 2nd quarter. Savant Capital LLC now owns 8,005 shares of the financial services provider’s stock valued at $1,096,000 after acquiring an additional 302 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Intercontinental Exchange by 2,785.9% in the 2nd quarter. Acadian Asset Management LLC now owns 15,728 shares of the financial services provider’s stock valued at $2,150,000 after acquiring an additional 15,183 shares during the period. Finally, Caprock Group LLC boosted its stake in Intercontinental Exchange by 12.6% during the 2nd quarter. Caprock Group LLC now owns 7,031 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 786 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.