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

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

Several other research firms have also issued reports on ICE. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, TD Cowen cut their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $194.70.

Intercontinental Exchange Trading Down 0.5%

ICE opened at $152.00 on Friday. The firm has a 50 day simple moving average of $160.17 and a 200 day simple moving average of $172.74. Intercontinental Exchange has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a market cap of $86.67 billion, a price-to-earnings 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.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,668 shares of company stock worth $4,304,167 over the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently added to or reduced their stakes in ICE. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth about $28,000. Activest Wealth Management lifted its holdings in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $29,000. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange during the first quarter worth about $30,000. Finally, Private Wealth Management Group LLC grew its holdings in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

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.