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

Intercontinental Exchange (NYSE:ICE) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other equities research analysts also recently issued reports on ICE. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays lowered their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $155.86 on Tuesday. The company has a market cap of $89.49 billion, a P/E ratio of 36.93, a P/E/G ratio of 2.60 and a beta of 1.08. 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 $108.94 and a 52 week high of $167.99. The business has a fifty day simple moving average of $161.33 and a 200-day simple moving average of $149.66.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Equities research analysts forecast that Intercontinental Exchange will post 6.07 EPS 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 that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after buying an additional 3,536,913 shares in the last quarter. FMR LLC grew its holdings in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC boosted its stake in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares in the last quarter. Legal & General Group Plc boosted its stake in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Intercontinental Exchange by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock valued at $504,746,000 after purchasing an additional 21,615 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

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.