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

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

Other equities research analysts have also issued research reports about the stock. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research note on Monday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Bank of America lowered their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research note on Friday, April 19th. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, April 4th. Finally, Argus reiterated a buy rating and set a $153.00 price objective 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 issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of Moderate Buy and a consensus price target of $148.29.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $133.65 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $134.01 and a two-hundred day moving average of $129.97. The stock has a market cap of $76.66 billion, a P/E ratio of 30.65, a PEG ratio of 2.49 and a beta of 1.02. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange will post 5.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,734 shares of company stock valued at $8,738,238. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in Intercontinental Exchange in the 4th quarter worth $25,000. Annapolis Financial Services LLC boosted its position in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the 1st quarter valued at about $26,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. 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.