TD Cowen Forecasts Strong Price Appreciation for Cboe Global Markets (BATS:CBOE) Stock

Cboe Global Markets (BATS:CBOE) had its price objective lifted by investment analysts at TD Cowen from $342.00 to $417.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen‘s price target indicates a potential upside of 20.45% from the stock’s current price.

Other analysts also recently issued reports about the company. The Goldman Sachs Group upgraded Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Wells Fargo & Company boosted their price target on Cboe Global Markets from $309.00 to $357.00 and gave the stock an “equal weight” rating in a research note on Monday. Loop Capital set a $332.00 price target on Cboe Global Markets in a report on Wednesday. Piper Sandler dropped their price objective on Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Cboe Global Markets in a report on Monday, August 3rd. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $349.64.

Cboe Global Markets Stock Up 3.2%

BATS:CBOE traded up $10.69 on Monday, reaching $346.21. 391,142 shares of the stock traded hands, compared to its average volume of 1,134,423. The company’s fifty day simple moving average is $294.61 and its 200 day simple moving average is $291.85. The company has a market capitalization of $36.72 billion, a price-to-earnings ratio of 178.40 and a beta of 0.61. Cboe Global Markets has a 12 month low of $227.15 and a 12 month high of $371.18. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.

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

Cboe Global Markets announced that its Board of Directors has initiated a stock buyback program on Thursday, October 22nd that authorizes the company to buy back $550 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.6% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Trading of Cboe Global Markets

Several large investors have recently modified their holdings of CBOE. Emerald Investment Advisers LLC purchased a new position in Cboe Global Markets in the second quarter worth about $3,686,000. Danske Bank A S bought a new stake in shares of Cboe Global Markets during the 2nd quarter valued at about $658,000. Quantitative Investment Management LLC bought a new stake in shares of Cboe Global Markets during the 2nd quarter valued at about $1,636,000. Bleakley Financial Group LLC purchased a new stake in shares of Cboe Global Markets during the 1st quarter valued at about $3,831,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Cboe Global Markets by 316.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 8,681 shares of the company’s stock valued at $2,107,000 after purchasing an additional 6,598 shares during the last quarter. 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.