Cboe Global Markets (BATS:CBOE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Cboe Global Markets (BATS:CBOE) had its target price raised by investment analysts at Royal Bank Of Canada from $303.00 to $360.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective points to a potential upside of 5.07% from the stock’s current price.

A number of other research analysts have also weighed in on CBOE. Barclays decreased their price target on shares of Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. Piper Sandler decreased their price objective on Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Zacks Research lowered Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $450.00 target price on shares of Cboe Global Markets in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cboe Global Markets from $288.00 to $332.00 and gave the company an “underweight” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $342.82.

Cboe Global Markets Stock Up 2.1%

Shares of CBOE stock traded up $7.11 during trading hours on Friday, reaching $342.64. 66,726 shares of the company’s stock were exchanged, compared to its average volume of 1,133,071. Cboe Global Markets has a fifty-two week low of $227.15 and a fifty-two week high of $371.18. The company has a market cap of $36.34 billion, a price-to-earnings ratio of 176.62 and a beta of 0.61. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $294.61 and its 200-day moving average is $291.85.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, October 30th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.20. The company had revenue of $712.20 million during the quarter, compared to analyst estimates of $705.22 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. Cboe Global Markets’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $2.67 EPS. Analysts predict that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets declared that its Board of Directors has initiated a share repurchase program on Thursday, October 22nd that permits the company to repurchase $550 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.6% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Cboe Global Markets

In other news, Director Janet Froetscher sold 937 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total value of $261,376.15. Following the transaction, the director owned 12,870 shares in the company, valued at approximately $3,590,086.50. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Cboe Global Markets

Several large investors have recently bought and sold shares of CBOE. BlackRock Inc. purchased a new stake in shares of Cboe Global Markets in the 2nd quarter valued at about $2,474,799,000. Deutsche Bank AG acquired a new position in Cboe Global Markets during the second quarter worth approximately $491,465,000. Jupiter Topco LLC purchased a new stake in Cboe Global Markets in the second quarter valued at approximately $304,917,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cboe Global Markets by 5.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 987,606 shares of the company’s stock valued at $239,662,000 after acquiring an additional 51,784 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Cboe Global Markets by 2.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 875,775 shares of the company’s stock worth $236,512,000 after purchasing an additional 17,321 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

Cboe Global Markets Company Profile

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.