Intercontinental Exchange (NYSE:ICE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Intercontinental Exchange (NYSE:ICE) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also commented on ICE. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $157.63 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $155.39 and a 200 day simple moving average of $170.71. Intercontinental Exchange has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm has a market cap of $89.88 billion, a P/E ratio of 28.71, a P/E/G ratio of 2.40 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates 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%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. Sell-side analysts predict that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 1,770 shares of Intercontinental Exchange stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total transaction of $269,960.40. Following the transaction, the general counsel directly owned 44,212 shares of the company’s stock, valued at $6,743,214.24. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction 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 represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 168,044 shares of company stock valued at $25,832,095. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock worth $9,849,677,000 after buying an additional 745,135 shares during the period. State Street Corp increased its position in shares of Intercontinental Exchange by 0.8% during the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock worth $4,181,125,000 after acquiring an additional 194,325 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after acquiring an additional 145,961 shares during the period. Wellington Management Group LLP lifted its position in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares in the last quarter. Finally, Norges Bank acquired a new position in Intercontinental Exchange in the 2nd quarter worth $1,542,780,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

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.