Intercontinental Exchange (NYSE:ICE) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Other analysts have also recently issued research reports about the stock. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, 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 research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Price Performance

ICE stock opened at $161.14 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a 1 year low of $111.82 and a 1 year high of $167.99. The firm has a 50-day moving average of $160.55 and a 200 day moving average of $151.59. The company has a market cap of $92.52 billion, a P/E ratio of 38.18, a PEG ratio of 2.64 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange will post 6.07 EPS for the current year.

Insider Activity

In related news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value 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. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock valued at $1,554,559 over the last three months. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth $26,000. Financial Management Professionals Inc. lifted its position in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the second quarter valued at $25,000. Finally, Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange during the third quarter valued at about $29,000. Institutional investors 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.