Intercontinental Exchange (NYSE:ICE) Stock Rating Upgraded by Wall Street Zen

Intercontinental Exchange (NYSE:ICE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ICE has been the topic of a number of other research reports. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. TD Cowen dropped their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $157.63 on Friday. The company’s fifty day moving average is $155.39 and its two-hundred day moving average is $170.75. The company has a market cap of $89.88 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.05. Intercontinental Exchange has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

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, meeting the consensus estimate of $1.71. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.Intercontinental Exchange’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 earnings per share. Equities analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $151.00, for a total value of $314,231.00. Following the transaction, the general counsel directly owned 44,212 shares of the company’s stock, valued at approximately $6,676,012. This trade represents a 4.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 168,044 shares of company stock valued at $25,832,095. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently modified their holdings of the company. Advisors Capital Management LLC raised its stake in shares of Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 396 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Intercontinental Exchange by 1.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after buying an additional 13,497 shares in the last quarter. Trillium Asset Management LLC raised its stake in shares of Intercontinental Exchange by 12.0% in the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock valued at $49,907,000 after buying an additional 29,250 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Intercontinental Exchange by 6.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after acquiring an additional 55,057 shares during the period. Finally, King Luther Capital Management Corp boosted its position in shares of Intercontinental Exchange by 19.7% during the 2nd quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock valued at $53,961,000 after acquiring an additional 48,344 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.