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

by · The Markets Daily

Wall Street Zen lowered shares of Intercontinental Exchange (NYSE:ICE – Free Report) from a hold rating to a sell rating in a report published on Saturday morning.

ICE has been the subject of a number of other research reports. Barclays reaffirmed an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. TD Cowen reissued a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday. Finally, Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Get Our Latest Analysis on ICE

Intercontinental Exchange Trading Down 0.3%

Shares of Intercontinental Exchange stock opened at $151.97 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company’s 50-day simple moving average is $139.46 and its 200-day simple moving average is $153.50. Intercontinental Exchange has a 52-week low of $121.79 and a 52-week high of $189.35. The firm has a market cap of $85.32 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 earnings per share. As a group, equities research analysts anticipate that Intercontinental Exchange will post 7.98 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Steph & Co. increased its stake in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, Dorato Capital Management bought a new position in Intercontinental Exchange during the fourth quarter worth about $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

(Get Free Report)

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.

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