Intercontinental Exchange (NYSE:ICE) Stock Rating Lowered by StockNews.com

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

Several other brokerages have also weighed in on ICE. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $146.35 on Wednesday. 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 stock has a market capitalization of $84.03 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The business has a 50-day moving average of $154.33 and a 200 day moving average of $155.15. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting 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 quarter in the previous year, the business posted $1.46 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, 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. In the last three months, insiders sold 7,533 shares of company stock valued at $1,196,279. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp lifted its holdings in Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after buying an additional 4,973 shares during the last quarter. GDS Wealth Management lifted its stake in shares of Intercontinental Exchange by 5.3% during the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock valued at $16,612,000 after buying an additional 5,226 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $14,880,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in Intercontinental Exchange by 6.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider’s stock worth $27,192,000 after acquiring an additional 10,399 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other 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.