Intercontinental Exchange (NYSE:ICE) Lowered to “Sell” Rating by Wall Street Zen

Intercontinental Exchange (NYSE:ICE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently weighed in on ICE. JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Morgan Stanley cut their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. UBS Group lowered their price target on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. TD Cowen dropped their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Trading Down 0.5%

Shares of Intercontinental Exchange stock opened at $152.00 on Friday. Intercontinental Exchange has a 52-week low of $142.29 and a 52-week high of $189.35. The firm has a market capitalization of $86.67 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $160.17 and its two-hundred day moving average price is $172.67.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.55 EPS. On average, analysts expect that Intercontinental Exchange will post 6.73 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 25,668 shares of company stock valued at $4,304,167. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently modified their holdings of ICE. Norges Bank bought a new position in Intercontinental Exchange in the 2nd quarter valued at $1,542,780,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Nuveen LLC bought a new position in Intercontinental Exchange in the first quarter valued at about $575,383,000. Finally, Sands Capital Management LLC increased its position in Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after purchasing an additional 2,620,310 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.