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

StockNews.com lowered shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Several other equities research analysts have also recently commented on ICE. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an overweight rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and increased their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. Keefe, Bruyette & Woods restated an outperform rating and set a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $154.93.

Intercontinental Exchange Stock Up 0.2 %

NYSE:ICE opened at $158.11 on Wednesday. The stock’s fifty day simple moving average is $146.34 and its 200-day simple moving average is $138.91. The firm has a market capitalization of $90.69 billion, a P/E ratio of 36.26, a P/E/G ratio of 2.68 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $158.46.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (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 the consensus estimate of $2.31 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange will post 6 earnings per share for the current year.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the transaction, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the sale, the insider now owns 14,636 shares in the company, valued at approximately $2,174,909.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,992 shares of company stock worth $9,197,801. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ICE. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC increased its position in Intercontinental Exchange by 1,018.8% during the 1st 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. New Millennium Group LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $25,000. Finally, Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $25,000. Institutional investors 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.