Intercontinental Exchange (NYSE:ICE) Rating Lowered to Outperform at Raymond James

Raymond James cut shares of Intercontinental Exchange (NYSE:ICE - Free Report) from a strong-buy rating to an outperform rating in a research note issued to investors on Monday morning, Marketbeat reports. Raymond James currently has $185.00 target price on the financial services provider's stock.

ICE has been the topic of several other reports. Piper Sandler raised their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an overweight rating in a report on Tuesday, October 8th. StockNews.com upgraded shares of Intercontinental Exchange from a sell rating to a hold rating in a research note on Thursday, October 3rd. Citigroup raised their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research note on Tuesday, July 9th. The Goldman Sachs Group raised their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a buy rating in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods restated an outperform rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of Moderate Buy and an average target price of $170.67.

Intercontinental Exchange Price Performance

ICE stock traded up $1.81 during mid-day trading on Monday, hitting $164.38. The stock had a trading volume of 2,717,693 shares, compared to its average volume of 2,488,347. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 52 week low of $104.49 and a 52 week high of $164.75. The firm has a market capitalization of $94.29 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.62 and a beta of 1.08. The firm has a fifty day simple moving average of $159.19 and a 200 day simple moving average of $145.34.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $1.43 EPS. The business's quarterly revenue was up 22.7% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange will post 6.08 EPS for the current year.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the 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 transaction, the general counsel now directly owns 44,865 shares of the company's stock, valued at $7,159,108.05. This 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 the SEC website. In related news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company's stock, valued at $2,202,819.30. This 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 the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,532 shares of company stock valued at $1,507,309. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Creekmur Asset Management LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $37,000. Fisher Asset Management LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $317,000. HighPoint Advisor Group LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $1,383,000. Finally, Trust Co. of Toledo NA OH raised its holdings in Intercontinental Exchange by 9.2% during the first quarter. Trust Co. of Toledo NA OH now owns 29,097 shares of the financial services provider's stock worth $3,999,000 after buying an additional 2,450 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

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.