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

Intercontinental Exchange (NYSE:ICE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently weighed in on ICE. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler reduced their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group decreased their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Trading Up 0.0%

ICE opened at $161.29 on Friday. Intercontinental Exchange has a one year low of $121.79 and a one year high of $181.65. The stock has a market capitalization of $90.55 billion, a PE ratio of 22.78, a P/E/G ratio of 1.57 and a beta of 0.92. The business’s 50 day moving average price is $142.34 and its 200 day moving average price is $151.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

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. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange will post 8.1 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,200 shares of company stock valued at $3,035,385. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Intercontinental Exchange

A number of institutional investors and hedge funds have recently bought and sold shares of ICE. PNC Financial Services Group Inc. lifted its position in Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares during the period. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. USS Investment Management Ltd increased its holdings in shares of Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares during the period. Walter Public Investments Inc. raised its stake in shares of Intercontinental Exchange by 13.8% during the fourth 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 during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 0.8% during the fourth 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 during the last quarter. 89.30% of the stock is currently owned by hedge funds and other 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.