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

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

Several other research firms also recently weighed in on ICE. UBS Group lifted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Citigroup upped their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Barclays reduced their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods decreased their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday. Finally, Raymond James increased their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Intercontinental Exchange Trading Up 3.1 %

Shares of Intercontinental Exchange stock traded up $3.96 on Friday, hitting $130.50. 3,990,207 shares of the company’s stock traded hands, compared to its average volume of 2,426,097. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a fifty day moving average of $135.17 and a two-hundred day moving average of $125.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. As a group, sell-side analysts expect that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 157,832 shares of company stock valued at $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of the stock. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $25,000. Venturi Wealth Management LLC increased its holdings in Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 93 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors 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.