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

StockNews.com lowered shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note published on Monday.

A number of other brokerages have also weighed in on ICE. Citigroup raised their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target 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. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Stock Up 1.1 %

Shares of NYSE ICE opened at $166.89 on Monday. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $167.54. 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 company’s 50-day simple moving average is $161.21 and its 200-day simple moving average is $146.86. The firm has a market cap of $95.73 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

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

Insider Activity

In related news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now directly owns 3,958 shares in the company, valued at $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 in the last quarter. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors have recently bought and sold shares of ICE. Assenagon Asset Management S.A. grew its holdings in shares of Intercontinental Exchange by 819.7% in the second 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. boosted its position in Intercontinental Exchange by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after buying an additional 20,802 shares during the period. Mission Wealth Management LP acquired a new position in shares of Intercontinental Exchange in the first quarter worth $866,000. UniSuper Management Pty Ltd increased its position in shares of Intercontinental Exchange by 200.2% during the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after acquiring an additional 9,642 shares during the period. Finally, BDF Gestion acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at $2,849,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.