CBOE Holdings, Inc. (NASDAQ:CBOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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.”

Several other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of CBOE Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Deutsche Bank AG upped their price target on shares of CBOE Holdings from $76.00 to $79.00 and gave the stock a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and set a $92.00 price target (up previously from $85.00) on shares of CBOE Holdings in a research report on Monday, July 17th. Citigroup Inc. initiated coverage on shares of CBOE Holdings in a research report on Wednesday, July 12th. They set a “neutral” rating and a $93.00 price target for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $100.00 price target (up previously from $90.00) on shares of CBOE Holdings in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.09.

CBOE Holdings (NASDAQ CBOE) opened at 104.67 on Friday. CBOE Holdings has a 12 month low of $61.58 and a 12 month high of $106.53. The stock’s 50 day moving average price is $99.06 and its 200-day moving average price is $88.73. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 57.23 and a beta of 0.49.

CBOE Holdings (NASDAQ:CBOE) last released its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. CBOE Holdings had a net margin of 17.81% and a return on equity of 17.45%. The firm had revenue of $266.90 million during the quarter, compared to the consensus estimate of $266.22 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 85.2% on a year-over-year basis. Equities analysts expect that CBOE Holdings will post $3.39 EPS for the current year.

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In other news, Director Carole E. Stone sold 1,520 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $97.14, for a total value of $147,652.80. Following the completion of the sale, the director now owns 14,241 shares of the company’s stock, valued at approximately $1,383,370.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank E. Jr. English sold 700 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 4,514 shares of the company’s stock, valued at approximately $449,549.26. The disclosure for this sale can be found here. In the last three months, insiders sold 214,240 shares of company stock valued at $20,981,248. Corporate insiders own 1.86% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vantage Investment Advisors LLC grew its stake in shares of CBOE Holdings by 0.3% in the 2nd quarter. Vantage Investment Advisors LLC now owns 3,006 shares of the financial services provider’s stock valued at $275,000 after buying an additional 8 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of CBOE Holdings by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 5,592 shares of the financial services provider’s stock valued at $511,000 after buying an additional 16 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in shares of CBOE Holdings by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,346 shares of the financial services provider’s stock valued at $123,000 after buying an additional 20 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of CBOE Holdings by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,826 shares of the financial services provider’s stock valued at $624,000 after buying an additional 21 shares during the period. Finally, Advisor Group Inc. grew its stake in shares of CBOE Holdings by 0.9% in the 2nd quarter. Advisor Group Inc. now owns 2,278 shares of the financial services provider’s stock valued at $208,000 after buying an additional 21 shares during the period. 82.49% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for CBOE Holdings (NASDAQ:CBOE)

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