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

by · The Cerbat Gem

StockNews.com upgraded shares of Intercontinental Exchange (NYSE:ICE – Free Report) from a sell rating to a hold rating in a research note published on Thursday.

Several other research analysts have also recently issued reports on the company. Bank of America increased 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. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a buy rating in a research report on Thursday. Citigroup lifted their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a report on Tuesday, July 9th. Royal Bank of Canada assumed coverage on shares of Intercontinental Exchange in a report on Friday, September 27th. They set an outperform rating and a $200.00 target price on the stock. Finally, Barclays boosted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an overweight rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $167.80.

Check Out Our Latest Stock Report on Intercontinental Exchange

Intercontinental Exchange Stock Performance

ICE stock opened at $162.76 on Thursday. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $164.18. The firm has a market cap of $93.36 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.81 and a beta of 1.08. The business’s fifty day simple moving average is $158.16 and its two-hundred day simple moving average is $144.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 EPS. Analysts predict that Intercontinental Exchange will post 6.04 earnings per share for the current year.

Insider Activity

In related news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,921 shares of company stock valued at $9,779,862 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC increased its stake 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 worth $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth $25,000. 89.30% of the stock is owned by institutional investors and hedge funds.

About Intercontinental Exchange

(Get Free Report)

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.

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