Intercontinental Exchange (NYSE:ICE) Hits New 52-Week Low – Time to Sell?

Intercontinental Exchange Inc. (NYSE:ICE) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $128.33 and last traded at $129.5590, with a volume of 166422 shares changing hands. The stock had previously closed at $130.02.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Barclays reiterated 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. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $189.36.

Intercontinental Exchange Stock Down 0.3%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day simple moving average is $147.92 and its two-hundred day simple moving average is $157.60. The stock has a market capitalization of $70.16 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after purchasing an additional 10,742 shares during the period. Walter Public Investments Inc. boosted its position in shares of Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Intercontinental Exchange by 857.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 11,655 shares of the financial services provider’s stock valued at $1,888,000 after buying an additional 10,438 shares during the period. Finally, OFI Invest Asset Management grew its stake in shares of Intercontinental Exchange by 51,986.3% in the 4th quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock valued at $64,872,000 after buying an additional 399,775 shares during the period. 89.30% of the stock is 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.