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

Intercontinental Exchange (NYSE:ICE) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

A number of other analysts have also recently weighed in on ICE. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.07.

Intercontinental Exchange Trading Down 0.1 %

NYSE ICE opened at $146.35 on Wednesday. The company has a 50-day moving average of $154.33 and a 200-day moving average of $155.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $167.99. The company has a market cap of $84.03 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,533 shares of company stock worth $1,196,279 over the last quarter. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quintet Private Bank Europe S.A. lifted its stake in shares of Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 63 shares during the period. Integrated Advisors Network LLC lifted its holdings in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares during the period. Finally, Catalina Capital Group LLC increased its stake in Intercontinental Exchange by 3.9% in the 3rd quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock valued at $300,000 after buying an additional 70 shares during the period. 89.30% of the stock is currently 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.