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

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

A number of other equities analysts have also recently issued reports on ICE. The Goldman Sachs Group increased their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays increased their target price on Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.80.

Intercontinental Exchange Stock Down 0.3 %

ICE stock traded down $0.46 during trading hours on Monday, reaching $166.37. 2,354,277 shares of the stock were exchanged, compared to its average volume of 2,482,069. The firm’s 50-day moving average is $160.80 and its 200-day moving average is $146.53. The company has a market cap of $95.43 billion, a price-to-earnings ratio of 38.16, a PEG 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 released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities research analysts expect that Intercontinental Exchange will post 6.08 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,532 shares of company stock worth $1,358,709. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds have recently bought and sold shares of ICE. Annapolis Financial Services LLC increased its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Finally, Wolff Wiese Magana LLC increased 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 worth $25,000 after purchasing an additional 147 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.