Intercontinental Exchange (NYSE:ICE) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research report sent to investors on Friday.

Other analysts have also recently issued reports about the stock. Citigroup lifted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods lowered their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a research note on Friday. UBS Group upped their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a buy rating in a research report on Monday, February 12th. Barclays reduced their target price on Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a research note on Friday. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $147.92.

Intercontinental Exchange Stock Up 0.6 %

Shares of ICE stock traded up $0.78 during trading hours on Friday, reaching $131.28. 1,128,172 shares of the company’s stock were exchanged, compared to its average volume of 2,409,724. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a market cap of $75.30 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 2.14 and a beta of 1.02. Intercontinental Exchange has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The stock’s 50 day moving average is $135.01 and its 200-day moving average is $126.02.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. Analysts predict that Intercontinental Exchange will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

Insiders Place Their Bets

In other news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,832 shares of company stock worth $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new position in Intercontinental Exchange during the third quarter worth $25,000. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC increased its stake in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $26,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the 1st quarter valued at about $26,000. Hedge funds and other 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.