StockNews.com Upgrades Intercontinental Exchange (NYSE:ICE) to Hold

Intercontinental Exchange (NYSE:ICE) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

ICE has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. Morgan Stanley boosted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $1.01 during trading on Tuesday, hitting $156.08. The company’s stock had a trading volume of 2,047,451 shares, compared to its average volume of 2,571,255. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $161.43 and a 200 day moving average price of $149.49. The firm has a market cap of $89.62 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. Intercontinental Exchange has a 52 week low of $108.62 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. CCLA Investment Management raised its stake in Intercontinental Exchange by 91,838.2% in the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after buying an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $124,508,000. Janus Henderson Group PLC increased its stake in shares of Intercontinental Exchange by 589.4% during the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the period. Finally, James Hambro & Partners bought a new position in shares of Intercontinental Exchange during the second quarter worth approximately $93,340,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.