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

StockNews.com downgraded shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

ICE has been the topic of a number of other research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. The Goldman Sachs Group increased their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE ICE opened at $160.96 on Wednesday. The company’s 50 day moving average price is $160.62 and its 200-day moving average price is $151.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange has a 52-week low of $111.82 and a 52-week high of $167.99. The company has a market capitalization of $92.42 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,696 shares of company stock worth $1,554,559. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares during the period. Synovus Financial Corp lifted its position in shares of Intercontinental Exchange by 7.1% during the 3rd quarter. Synovus Financial Corp now owns 33,874 shares of the financial services provider’s stock valued at $5,441,000 after buying an additional 2,247 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Intercontinental Exchange by 180.6% during the 3rd quarter. Tidal Investments LLC now owns 98,482 shares of the financial services provider’s stock valued at $15,820,000 after buying an additional 63,382 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth $3,504,000. Finally, World Investment Advisors LLC increased its holdings in Intercontinental Exchange by 759.2% in the 3rd quarter. World Investment Advisors LLC now owns 52,946 shares of the financial services provider’s stock worth $8,505,000 after acquiring an additional 46,784 shares during the last quarter. 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.