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

Intercontinental Exchange (NYSE:ICE) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also recently issued reports on ICE. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 price target (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $193.50.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE ICE opened at $172.94 on Friday. The stock has a market cap of $98.61 billion, a PE ratio of 31.50, a P/E/G ratio of 2.14 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a 50-day moving average of $161.89 and a 200 day moving average of $167.03.

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

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 3,700 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the transaction, the director owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $163.20, for a total transaction of $261,120.00. Following the completion of the sale, the senior vice president owned 24,196 shares of the company’s stock, valued at $3,948,787.20. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 166,068 shares of company stock worth $25,470,702. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently bought and sold shares of the company. Optivise Advisory Services LLC increased its stake in Intercontinental Exchange by 3.1% during the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares during the period. ICONIQ Capital LLC grew its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Tritonpoint Wealth LLC increased its stake in Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after buying an additional 58 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Intercontinental Exchange by 5.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after buying an additional 58 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its holdings in Intercontinental Exchange by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds 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.