Intercontinental Exchange (NYSE:ICE) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Intercontinental Exchange (NYSE:ICE) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

ICE has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Bank of America decreased 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 objective on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, April 4th. Finally, Argus reaffirmed a buy rating and issued a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of Moderate Buy and an average price target of $151.29.

Intercontinental Exchange Stock Up 2.8 %

Shares of ICE opened at $140.82 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $134.62 and a two-hundred day moving average price of $133.00. The stock has a market cap of $80.77 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.55 and a beta of 1.06. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $140.98.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $1.41 EPS. Intercontinental Exchange’s revenue was up 20.8% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 4,506 shares of company stock worth $609,374. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. Pettyjohn Wood & White Inc. boosted its stake in Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 75 shares during the period. Busey Bank lifted its holdings in shares of 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 purchasing an additional 80 shares in the last quarter. Western Pacific Wealth Management LP grew its holdings in shares of Intercontinental Exchange by 4.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock worth $220,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management raised its position in Intercontinental Exchange by 16.4% in the 1st quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock valued at $80,000 after buying an additional 82 shares during the last quarter. Finally, PDS Planning Inc boosted its position in Intercontinental Exchange by 2.8% during the 1st quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 83 shares during the last quarter. 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.