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

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

ICE has been the topic of several other research reports. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Raymond James cut shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday. Finally, Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Trading Down 0.1 %

Shares of ICE traded down $0.09 during trading on Wednesday, reaching $146.35. 3,719,009 shares of the company traded hands, compared to its average volume of 2,749,342. The stock has a 50-day simple moving average of $154.52 and a 200-day simple moving average of $155.21. The stock has a market cap of $84.03 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

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

Insider Transactions at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,533 shares of company stock valued at $1,196,279. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently made changes to their positions in the company. Quintet Private Bank Europe S.A. lifted its stake in Intercontinental Exchange by 13.8% in 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. raised its position in Intercontinental Exchange by 26.4% in the 3rd 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 last quarter. Integrated Advisors Network LLC raised its position in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 70 shares during the period. Finally, Catalina Capital Group LLC grew its position in Intercontinental Exchange by 3.9% during the 3rd quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 70 shares during the last quarter. 89.30% of the stock is 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.