Intercontinental Exchange (NYSE:ICE) Rating Lowered to Sell at StockNews.com

Intercontinental Exchange (NYSE:ICE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

ICE has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.80.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.46 during mid-day trading on Monday, reaching $166.37. The stock had a trading volume of 2,354,277 shares, compared to its average volume of 2,482,069. The stock has a 50-day simple moving average of $160.80 and a two-hundred day simple moving average of $146.53. The stock has a market capitalization of $95.43 billion, a PE ratio of 38.16, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $167.23.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) 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 analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange will post 6.08 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction 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 owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,532 shares of company stock worth $1,358,709. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 63 shares during the period. Whittier Trust Co. raised its holdings in shares of Intercontinental Exchange by 1.3% during the third quarter. Whittier Trust Co. now owns 5,916 shares of the financial services provider’s stock valued at $950,000 after purchasing an additional 76 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the third quarter valued at about $26,000. Everence Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 18.0% during the third quarter. Everence Capital Management Inc. now owns 19,320 shares of the financial services provider’s stock valued at $3,104,000 after purchasing an additional 2,950 shares during the period. Finally, James Hambro & Partners LLP raised its holdings in shares of Intercontinental Exchange by 6.3% during the third quarter. James Hambro & Partners LLP now owns 725,075 shares of the financial services provider’s stock valued at $116,480,000 after purchasing an additional 42,689 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.