Intercontinental Exchange (NYSE:ICE) Hits New 1-Year Low – Should You Sell?

Intercontinental Exchange Inc. (NYSE:ICE)’s share price reached a new 52-week low on Thursday . The company traded as low as $128.33 and last traded at $129.5590, with a volume of 166422 shares traded. The stock had previously closed at $130.02.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ICE shares. Morgan Stanley raised their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $189.36.

Intercontinental Exchange Stock Down 1.7%

The business has a 50 day moving average of $149.49 and a 200 day moving average of $158.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $72.30 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $1.72 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of the stock. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $25,000. Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. raised its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Finally, Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. 89.30% of the stock is currently owned by institutional investors.

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.