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

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

Other equities research analysts have also issued reports about the company. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. UBS Group reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $193.50.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $172.94 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $98.61 billion, a PE ratio of 31.50, a P/E/G ratio of 2.12 and a beta of 1.03. Intercontinental Exchange has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a fifty day moving average of $161.89 and a two-hundred day moving average of $167.23.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $163.20, for a total value of $261,120.00. Following the sale, the senior vice president owned 24,196 shares in the company, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,221,150.80. The trade was a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 166,068 shares of company stock valued at $25,470,702. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ICE. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $28,000. Westside Investment Management Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at $29,000. Hilltop National Bank purchased a new position in Intercontinental Exchange in the second quarter valued at $31,000. Dorato Capital Management purchased a new position in Intercontinental Exchange in the fourth quarter valued at $29,000. Finally, Steph & Co. grew its stake in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.