StockNews.com Upgrades Intercontinental Exchange (NYSE:ICE) to Hold

Intercontinental Exchange (NYSE:ICE) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities research analysts also recently weighed in on ICE. TD Cowen assumed coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $1.01 during mid-day trading on Tuesday, reaching $156.08. 2,047,451 shares of the company were exchanged, compared to its average volume of 2,571,255. The company has a fifty day simple moving average of $161.43 and a 200-day simple moving average of $149.49. The firm has a market cap of $89.62 billion, a PE ratio of 36.98, a PEG ratio of 2.61 and a beta of 1.08. Intercontinental Exchange has a 12 month low of $108.62 and a 12 month high of $167.99. 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 (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. As a group, equities research analysts expect that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,489 shares of company stock worth $1,202,259. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC raised its position in shares of Intercontinental Exchange by 17.6% in the third quarter. Larson Financial Group LLC now owns 1,279 shares of the financial services provider’s stock worth $205,000 after buying an additional 191 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in shares of Intercontinental Exchange by 0.3% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 125,503 shares of the financial services provider’s stock worth $20,161,000 after buying an additional 404 shares in the last quarter. Swedbank AB raised its position in shares of Intercontinental Exchange by 9.0% in the third quarter. Swedbank AB now owns 92,582 shares of the financial services provider’s stock worth $14,872,000 after buying an additional 7,640 shares in the last quarter. Pitcairn Co. raised its position in Intercontinental Exchange by 14.5% during the third quarter. Pitcairn Co. now owns 15,771 shares of the financial services provider’s stock valued at $2,533,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Intercontinental Exchange by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 10,673 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.