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

Wall Street Zen downgraded shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a report released on Saturday.

Several other research analysts have also weighed in on the stock. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. UBS Group reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 7th. Finally, Barclays set a $182.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $175.29 on Friday. The company has a market cap of $99.95 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. Intercontinental Exchange has a one year low of $143.17 and a one year high of $189.35. The business has a fifty day moving average of $162.40 and a two-hundred day moving average of $166.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 EPS. As a group, analysts predict that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 3,700 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $157.96, for a total value of $584,452.00. Following the sale, the director directly owned 14,469 shares in the company, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,068 shares of company stock valued at $25,470,702 in the last ninety days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after acquiring an additional 745,135 shares during the last quarter. State Street Corp increased its stake in Intercontinental Exchange by 0.8% in the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after purchasing an additional 194,325 shares during the last quarter. Geode Capital Management LLC lifted its position in Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after buying an additional 145,961 shares during the period. Wellington Management Group LLP lifted its position in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the period. Finally, Norges Bank acquired a new stake in Intercontinental Exchange in the 2nd quarter worth about $1,542,780,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.