Intercontinental Exchange (NYSE:ICE) Upgraded to “Hold” by StockNews.com

Intercontinental Exchange (NYSE:ICE) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other research analysts have also recently issued reports on ICE. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America increased their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Finally, Royal Bank of Canada started coverage on shares of Intercontinental Exchange in a report on Friday, September 27th. They issued an “outperform” rating and a $200.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.80.

Intercontinental Exchange Trading Down 0.3 %

NYSE ICE opened at $162.74 on Thursday. The stock has a market capitalization of $93.35 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange has a 52-week low of $104.49 and a 52-week high of $164.18. The firm has a 50-day moving average price of $158.16 and a 200 day moving average price of $144.36. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Equities research analysts expect that Intercontinental Exchange will post 6.04 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,316 shares of company stock worth $9,835,609. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently made changes to their positions in the stock. Eagle Asset Management Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $294,000. Campbell & CO Investment Adviser LLC raised its stake in shares of Intercontinental Exchange by 9.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 4,707 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 421 shares during the period. Cetera Advisor Networks LLC raised its stake in shares of Intercontinental Exchange by 22.0% in the 4th quarter. Cetera Advisor Networks LLC now owns 34,151 shares of the financial services provider’s stock valued at $4,386,000 after acquiring an additional 6,164 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Intercontinental Exchange by 1,197.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,038 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 958 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Intercontinental Exchange by 7.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 970,192 shares of the financial services provider’s stock valued at $124,602,000 after acquiring an additional 71,365 shares during the period. Institutional investors and hedge funds 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.