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

StockNews.com lowered shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research report released on Wednesday morning.

ICE has been the topic of several other research reports. Bank of America boosted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Piper Sandler increased their price objective 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. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Trading Up 0.4 %

Shares of Intercontinental Exchange stock opened at $161.14 on Wednesday. Intercontinental Exchange has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $92.52 billion, a P/E ratio of 38.18, a P/E/G ratio of 2.64 and a beta of 1.08. The company has a fifty day moving average of $160.55 and a 200 day moving average of $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, hitting analysts’ consensus estimates 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 posted $1.46 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,696 shares of company stock worth $1,554,559. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC increased its position in shares of Intercontinental Exchange by 7.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 16,243 shares of the financial services provider’s stock worth $2,232,000 after acquiring an additional 1,180 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Intercontinental Exchange by 61.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 3,062 shares during the period. Tidal Investments LLC raised its position in Intercontinental Exchange by 13.5% during the 1st quarter. Tidal Investments LLC now owns 30,820 shares of the financial services provider’s stock valued at $4,235,000 after purchasing an additional 3,655 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Intercontinental Exchange in the 1st quarter worth $233,000. Finally, LRI Investments LLC purchased a new position in shares of Intercontinental Exchange during the first quarter valued at $50,000. 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.