Intercontinental Exchange (NYSE:ICE) Rating Increased to Hold at StockNews.com

Intercontinental Exchange (NYSE:ICE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued reports about the stock. TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Barclays cut their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Bank of America raised their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Trading Down 0.1 %

Intercontinental Exchange stock opened at $156.14 on Thursday. The firm’s 50-day moving average is $160.47 and its 200-day moving average is $152.37. 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 1 year low of $111.82 and a 1 year high of $167.99. The company has a market cap of $89.65 billion, a P/E ratio of 37.00, a PEG ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting 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%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. On average, equities analysts expect that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,696 shares of company stock worth $1,554,559 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently made changes to their positions in ICE. Oddo BHF Asset Management Sas purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $14,880,000. Inspire Trust Co. N.A. grew its position in Intercontinental Exchange by 2.4% during the third quarter. Inspire Trust Co. N.A. now owns 12,000 shares of the financial services provider’s stock valued at $1,928,000 after purchasing an additional 283 shares in the last quarter. Franklin Resources Inc. grew its position 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 in the last quarter. Synovus Financial Corp grew its position in Intercontinental Exchange by 7.1% during the third quarter. Synovus Financial Corp now owns 33,874 shares of the financial services provider’s stock valued at $5,441,000 after purchasing an additional 2,247 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Intercontinental Exchange by 180.6% during the third quarter. Tidal Investments LLC now owns 98,482 shares of the financial services provider’s stock valued at $15,820,000 after purchasing an additional 63,382 shares in the last quarter. 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.