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

Intercontinental Exchange (NYSE:ICE) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other analysts have also issued research reports about the company. Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Bank of America upped their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Trading Up 0.4 %

Shares of NYSE:ICE traded up $0.65 during trading on Wednesday, reaching $161.14. 2,481,642 shares of the company traded hands, compared to its average volume of 2,577,322. The firm has a market capitalization of $92.52 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 2.64 and a beta of 1.08. Intercontinental Exchange has a 52-week low of $111.82 and a 52-week 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. The business’s fifty day moving average is $160.55 and its 200-day moving average is $151.59.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. As a group, analysts forecast that Intercontinental Exchange will post 6.07 EPS for the current year.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,696 shares of company stock worth $1,554,559. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently modified their holdings of the stock. Quintet Private Bank Europe S.A. boosted its position in shares of Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after buying an additional 62 shares during the last quarter. Raleigh Capital Management Inc. boosted its position 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 buying an additional 63 shares during the last quarter. Integrated Advisors Network LLC boosted its position in shares of Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after buying an additional 66 shares during the last quarter. American National Bank boosted its position in shares of Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after buying an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

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.