IntercontinentalExchange Group Inc. (NYSE:ICE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Intercontinental Exchange’s exposure to stiff competition, low interest rate, challenging regulations and volatile industry trends raise concerns. Moreover, weak volumes are a drag on margins and remain headwinds. The Zacks Consensus Estimate for both 2016 and 2017 witnessed a downward estimate revision over the last 60 days. Nonetheless, incremental cash flows and capital position support efficiencies, strategic acquisitions, alliances and divestments, product novelty, and global expansion. Successful integration of acquisitions, timely achievement of cost synergies and steady debt reduction raise optimism. The company now expects adjusted operating expenses in the range of $1.94–$1.97 billion for 2016. Its inorganic story seems impressive with prudent acquisitions. Notably, the second-quarter 2016 marked the seventh straight quarter of double-digit earnings growth.”

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of IntercontinentalExchange Group from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Barclays PLC restated an “overweight” rating and set a $307.00 price target (up from $295.00) on shares of IntercontinentalExchange Group in a research report on Thursday, August 11th. Deutsche Bank AG boosted their price target on shares of IntercontinentalExchange Group from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Royal Bank Of Canada boosted their price target on shares of IntercontinentalExchange Group from $255.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, August 4th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $282.00 price target (up from $255.00) on shares of IntercontinentalExchange Group in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. IntercontinentalExchange Group has a consensus rating of “Buy” and an average target price of $296.18.

Shares of IntercontinentalExchange Group (NYSE:ICE) opened at 267.72 on Friday. The company has a 50-day moving average price of $278.13 and a 200-day moving average price of $261.18. IntercontinentalExchange Group has a 12-month low of $227.22 and a 12-month high of $287.02. The firm has a market capitalization of $30.80 billion, a P/E ratio of 22.09 and a beta of 0.92.

IntercontinentalExchange Group (NYSE:ICE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.05. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The business earned $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $2.90 EPS. IntercontinentalExchange Group’s revenue was up 41.7% compared to the same quarter last year. Equities analysts predict that IntercontinentalExchange Group will post $13.80 EPS for the current year.

In related news, insider Thomas W. Farley sold 1,900 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $283.03, for a total transaction of $537,757.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles A. Vice sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $278.79, for a total transaction of $557,580.00. Following the transaction, the insider now owns 61,983 shares in the company, valued at approximately $17,280,240.57. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. D. Scott Neal Inc. boosted its stake in shares of IntercontinentalExchange Group by 100.0% in the second quarter. D. Scott Neal Inc. now owns 400 shares of the company’s stock worth $102,000 after buying an additional 200 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in shares of IntercontinentalExchange Group during the second quarter worth $102,000. LSV Asset Management acquired a new stake in shares of IntercontinentalExchange Group during the second quarter worth $116,000. Johnson Financial Group Inc. boosted its stake in shares of IntercontinentalExchange Group by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock worth $120,000 after buying an additional 324 shares during the period. Finally, Invictus RG boosted its stake in shares of IntercontinentalExchange Group by 2,695.5% in the first quarter. Invictus RG now owns 615 shares of the company’s stock worth $145,000 after buying an additional 593 shares during the period. Institutional investors own 90.04% of the company’s stock.

About IntercontinentalExchange Group

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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