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

StockNews.com cut shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note published on Thursday.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lowered their price target on Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating on the stock in a research report on Friday, May 3rd. Bank of America lowered their price target on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research report on Friday, April 19th. Rosenblatt Securities reiterated a buy rating and issued a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Barclays upped their price target on Intercontinental Exchange from $150.00 to $159.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an overweight rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of Moderate Buy and an average target price of $152.07.

Intercontinental Exchange Stock Performance

ICE opened at $151.00 on Thursday. The stock has a market cap of $86.61 billion, a PE ratio of 34.63, a P/E/G ratio of 2.68 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a 1 year low of $104.49 and a 1 year high of $151.72. The stock’s 50 day simple moving average is $139.66 and its 200-day simple moving average is $135.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business 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 business posted $1.41 earnings per share. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange will post 6 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently made changes to their positions in the company. American National Bank lifted its stake in Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares during the period. Catalyst Financial Partners LLC lifted its stake in Intercontinental Exchange by 3.4% in the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after buying an additional 73 shares during the period. Pettyjohn Wood & White Inc. lifted its stake in Intercontinental Exchange by 0.5% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 75 shares during the period. Busey Bank lifted its stake in Intercontinental Exchange by 3.4% in the first quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock valued at $335,000 after buying an additional 80 shares during the period. Finally, Western Pacific Wealth Management LP lifted its stake in Intercontinental Exchange by 4.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds 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.