CBOE Holdings, Inc. (NASDAQ:CBOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, October 9th. The brokerage currently has a $121.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.48% from the stock’s current price.
According to Zacks, “Shares of CBOE Holdings have outperformed the industry, year to date. Moreover, the company has witnessed its 2017 and 2018 estimates moving north over the last 60 days. CBOE Holdings remains focused on expansion of its proprietary product offering, while extending its global customer reach. Diversified product portfolio and core competencies fuel its growth prospects. Also, the acquisition of Bats Global Markets is a strategic fit as it will expand and diversify CBOE Holdings’ product portfolio and boost margins. However, intense competition and escalating costs remain concerns for CBOE Holdings. The company estimates capital expenditure in 2017 between $55 million and $60 million.”
Other research analysts have also recently issued reports about the stock. Bank of America Corporation increased their price target on shares of CBOE Holdings from $113.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 9th. Jefferies Group LLC reissued a “hold” rating and issued a $92.00 price target on shares of CBOE Holdings in a report on Thursday, August 24th. Barclays PLC assumed coverage on shares of CBOE Holdings in a report on Friday, September 8th. They issued an “equal weight” rating and a $105.00 price target on the stock. BidaskClub raised shares of CBOE Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada set a $100.00 target price on shares of CBOE Holdings and gave the stock a “buy” rating in a report on Monday, September 11th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $101.64.
CBOE Holdings (NASDAQ CBOE) traded up 0.05% during mid-day trading on Monday, hitting $109.59. The company had a trading volume of 262,274 shares. CBOE Holdings has a 52-week low of $61.58 and a 52-week high of $110.67. The firm has a market cap of $12.36 billion, a P/E ratio of 59.92 and a beta of 0.50. The stock’s 50 day moving average price is $105.74 and its 200 day moving average price is $92.98.
CBOE Holdings (NASDAQ:CBOE) last posted its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $266.90 million during the quarter, compared to the consensus estimate of $266.22 million. CBOE Holdings had a net margin of 17.81% and a return on equity of 17.45%. The company’s quarterly revenue was up 85.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. On average, equities research analysts predict that CBOE Holdings will post $3.42 EPS for the current fiscal year.
In other news, Director Frank E. Jr. English sold 700 shares of CBOE Holdings stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $99.59, for a total transaction of $69,713.00. Following the completion of the transaction, the director now directly owns 4,514 shares in the company, valued at $449,549.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Edward T. Tilly sold 5,000 shares of CBOE Holdings stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $105.52, for a total transaction of $527,600.00. Following the transaction, the chairman now owns 75,611 shares of the company’s stock, valued at $7,978,472.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,240 shares of company stock valued at $21,417,728. Insiders own 1.86% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. W. E. Donoghue & Co. LLC purchased a new position in CBOE Holdings in the second quarter valued at about $203,000. Lord Abbett & CO. LLC boosted its stake in CBOE Holdings by 24.2% in the second quarter. Lord Abbett & CO. LLC now owns 76,148 shares of the financial services provider’s stock valued at $6,960,000 after acquiring an additional 14,845 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in shares of CBOE Holdings in the second quarter valued at approximately $1,054,000. Sentry Investment Management LLC raised its position in shares of CBOE Holdings by 1.0% in the second quarter. Sentry Investment Management LLC now owns 6,466 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 66 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of CBOE Holdings by 31.5% in the second quarter. Toronto Dominion Bank now owns 31,234 shares of the financial services provider’s stock valued at $2,854,000 after purchasing an additional 7,481 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.
CBOE Holdings Company Profile
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis, and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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