Intercontinental Exchange (NYSE:ICE) Downgraded to “Sell” at StockNews.com

Intercontinental Exchange (NYSE:ICE) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Citigroup lifted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays lifted their price objective on Intercontinental Exchange from $150.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.07.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.50 on Thursday, reaching $149.01. 3,164,832 shares of the company’s stock traded hands, compared to its average volume of 2,418,839. The stock has a 50-day simple moving average of $139.41 and a 200-day simple moving average of $135.40. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $150.39. The firm has a market cap of $85.47 billion, a PE ratio of 34.18, a P/E/G ratio of 2.64 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange will post 5.99 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the transaction, the insider now owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the transaction, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. Insiders sold a total of 64,290 shares of company stock worth $9,086,274 in the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Trading of Intercontinental Exchange

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Intercontinental Exchange by 8.5% in the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares in the last quarter. Point72 Europe London LLP lifted its position in shares of Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 6,500 shares during the last quarter. Perpetual Ltd boosted its holdings in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after buying an additional 6,272 shares in the last quarter. Finally, LGT Group Foundation grew its position in shares of Intercontinental Exchange by 36.0% in the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after buying an additional 94,039 shares during the last quarter. Hedge funds and other 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.