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

StockNews.com lowered shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other equities research analysts also recently weighed in on ICE. Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Stock Down 2.6 %

NYSE ICE opened at $142.73 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99. The firm has a market capitalization of $81.95 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.57 and a beta of 1.10. The company has a fifty day moving average of $154.09 and a two-hundred day moving average of $155.18.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 in the last three months. 1.10% of the stock is owned by insiders.

Institutional Trading of Intercontinental Exchange

Several large investors have recently bought and sold shares of ICE. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $25,000. Wolff Wiese Magana LLC grew its stake in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at about $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Intercontinental Exchange during the third quarter worth about $29,000. 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.