Intercontinental Exchange (NYSE:ICE) Downgraded by StockNews.com to “Sell”

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

A number of other brokerages have also weighed in on ICE. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Trading Down 0.1 %

NYSE ICE opened at $146.35 on Wednesday. Intercontinental Exchange has a one year low of $124.34 and a one year 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. The firm has a market cap of $84.03 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.57 and a beta of 1.10. The stock’s 50-day moving average is $154.52 and its 200-day moving average is $155.21.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate 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 net margin of 21.31% and a return on equity of 12.75%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. Sell-side analysts anticipate that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,533 shares of company stock valued at $1,196,279 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its holdings in shares of Intercontinental Exchange by 326.3% during the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after acquiring an additional 3,460,096 shares during the period. FMR LLC lifted its holdings in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after purchasing an additional 1,301,200 shares during the period. Assenagon Asset Management S.A. grew its holdings in Intercontinental Exchange by 426.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after buying an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC increased its position in Intercontinental Exchange by 142.2% during the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after buying an additional 490,671 shares during the period. 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.