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

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

Other research analysts also recently issued reports about the company. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler dropped their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. TD Cowen reiterated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Morgan Stanley reduced their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Trading Up 1.7%

Shares of ICE stock opened at $161.29 on Friday. The company has a market capitalization of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92. Intercontinental Exchange has a 12-month low of $121.79 and a 12-month high of $181.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $142.34 and a 200 day moving average price of $151.69.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. Research analysts forecast that Intercontinental Exchange will post 8.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the transaction, the chief financial officer owned 22,698 shares of the company’s stock, valued at $3,547,697.40. This trade represents a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 20,200 shares of company stock valued at $3,035,385 over the last three months. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at about $25,000. Rakuten Securities Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $26,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the 4th quarter worth about $28,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $30,000. Institutional investors 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.