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

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

Several other equities analysts have also recently commented on ICE. TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Citigroup increased their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group boosted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.80.

Intercontinental Exchange Trading Down 0.2 %

ICE opened at $165.94 on Monday. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $167.23. The firm has a market capitalization of $95.18 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $161.03 and its 200-day moving average is $146.73.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Analysts expect that Intercontinental Exchange will post 6.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,532 shares of company stock valued at $1,358,709 over the last three months. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after purchasing an additional 122,169 shares in the last quarter. Russell Investments Group Ltd. grew its position in Intercontinental Exchange by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after buying an additional 20,802 shares during the last quarter. Mission Wealth Management LP bought a new position in shares of Intercontinental Exchange in the first quarter valued at $866,000. UniSuper Management Pty Ltd lifted its position in shares of Intercontinental Exchange by 200.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock valued at $1,987,000 after acquiring an additional 9,642 shares during the last quarter. Finally, BDF Gestion bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $2,849,000. Institutional investors and hedge funds 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.