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

StockNews.com lowered shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note released on Friday.

ICE has been the subject of several other reports. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and upped their price objective for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup raised their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Barclays upped their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an overweight rating in a report on Friday, August 2nd. Finally, Argus reiterated a buy rating and set a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of Moderate Buy and a consensus target price of $154.93.

Intercontinental Exchange Stock Down 1.3 %

ICE stock opened at $160.49 on Friday. The company’s 50 day moving average price is $152.10 and its 200 day moving average price is $141.22. The firm has a market capitalization of $92.05 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.84 and a beta of 1.08. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. On average, equities research analysts anticipate that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s 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 sale, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,346 shares of company stock worth $9,472,911. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently made changes to their positions in the stock. Gilbert & Cook Inc. boosted its holdings in Intercontinental Exchange by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock worth $467,000 after buying an additional 188 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $320,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Intercontinental Exchange by 128.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,628 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 915 shares in the last quarter. 9258 Wealth Management LLC increased its stake in Intercontinental Exchange by 29.9% in the 4th quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 1,752 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $222,000. 89.30% of the stock is currently owned by hedge funds and other 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.