Cboe Global Markets (BATS:CBOE) Price Target Raised to $392.00

Cboe Global Markets (BATS:CBOE) had its target price raised by equities research analysts at Barclays from $343.00 to $392.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 12.10% from the company’s previous close.

A number of other research firms have also weighed in on CBOE. Piper Sandler decreased their target price on shares of Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on Cboe Global Markets from $288.00 to $332.00 and gave the company an “underweight” rating in a research report on Wednesday, October 28th. The Goldman Sachs Group raised Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Morgan Stanley reiterated an “overweight” rating and set a $450.00 price objective on shares of Cboe Global Markets in a research report on Friday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on Cboe Global Markets from $309.00 to $357.00 and gave the stock an “equal weight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cboe Global Markets presently has an average rating of “Hold” and an average target price of $354.09.

Cboe Global Markets Price Performance

Shares of BATS CBOE traded up $14.14 during mid-day trading on Monday, reaching $349.68. The company’s stock had a trading volume of 832,554 shares, compared to its average volume of 1,136,611. The stock has a 50-day moving average of $294.61 and a two-hundred day moving average of $291.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $37.09 billion, a P/E ratio of 180.13 and a beta of 0.61. Cboe Global Markets has a 1-year low of $227.15 and a 1-year high of $371.18.

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

Cboe Global Markets announced that its board has initiated a stock buyback program on Thursday, October 22nd that permits the company to repurchase $550 million in shares. This buyback authorization permits the company to buy up to 1.6% of its shares through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Cboe Global Markets news, Director Janet Froetscher sold 937 shares of Cboe Global Markets stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $278.95, for a total transaction of $261,376.15. Following the transaction, the director directly owned 12,870 shares of the company’s stock, valued at $3,590,086.50. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by company insiders.

Institutional Trading of Cboe Global Markets

Several hedge funds have recently made changes to their positions in CBOE. Emerald Investment Advisers LLC purchased a new position in shares of Cboe Global Markets in the 2nd quarter valued at $3,686,000. Danske Bank A S purchased a new stake in Cboe Global Markets in the second quarter valued at $658,000. Quantitative Investment Management LLC purchased a new stake in Cboe Global Markets in the second quarter valued at $1,636,000. Bleakley Financial Group LLC purchased a new stake in Cboe Global Markets in the first quarter valued at $3,831,000. Finally, Integrated Wealth Concepts LLC boosted its stake in Cboe Global Markets by 316.8% in the second quarter. Integrated Wealth Concepts LLC now owns 8,681 shares of the company’s stock valued at $2,107,000 after acquiring an additional 6,598 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

About Cboe Global Markets

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.