Zacks Research Upgrades Cboe Global Markets (BATS:CBOE) to “Strong-Buy”

Cboe Global Markets (BATS:CBOE) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other research firms have also issued reports on CBOE. Argus upgraded Cboe Global Markets to a “hold” rating in a research report on Wednesday, March 11th. UBS Group upped their price target on Cboe Global Markets from $305.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Piper Sandler upped their price target on Cboe Global Markets from $295.00 to $321.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada restated a “sector perform” rating and issued a $303.00 price target on shares of Cboe Global Markets in a research report on Monday, February 9th. Finally, Erste Group Bank lowered Cboe Global Markets from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $322.60.

Cboe Global Markets Price Performance

CBOE stock opened at $290.60 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day simple moving average of $316.81 and a 200-day simple moving average of $286.37. The firm has a market capitalization of $30.82 billion, a PE ratio of 149.79 and a beta of 0.61. Cboe Global Markets has a 1 year low of $218.58 and a 1 year high of $371.18.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, May 1st. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.37 by $0.33. The business had revenue of $728.90 million during the quarter, compared to analyst estimates of $688.36 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%.The business’s revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. Equities research analysts anticipate that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Janet P. Froetscher sold 1,223 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $358.09, for a total value of $437,944.07. Following the completion of the transaction, the director directly owned 13,807 shares in the company, valued at approximately $4,944,148.63. This represents a 8.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in Cboe Global Markets by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,993 shares of the company’s stock worth $3,371,000 after purchasing an additional 33 shares in the last quarter. Kendall Capital Management lifted its stake in Cboe Global Markets by 0.5% during the fourth quarter. Kendall Capital Management now owns 8,862 shares of the company’s stock worth $2,224,000 after purchasing an additional 40 shares in the last quarter. SHUTTLEWORTH & Co lifted its stake in Cboe Global Markets by 0.5% during the fourth quarter. SHUTTLEWORTH & Co now owns 8,339 shares of the company’s stock worth $2,093,000 after purchasing an additional 41 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in Cboe Global Markets by 4.7% during the first quarter. Arkadios Wealth Advisors now owns 905 shares of the company’s stock worth $254,000 after purchasing an additional 41 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its stake in Cboe Global Markets by 1.0% during the first quarter. Centaurus Financial Inc. now owns 4,048 shares of the company’s stock worth $1,138,000 after purchasing an additional 42 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.