Cboe Global Markets (BATS:CBOE) Stock Gets Price Target Increase from Royal Bank Of Canada

Cboe Global Markets (BATS:CBOE) had its price target lifted by investment analysts at Royal Bank Of Canada from $303.00 to $360.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 5.07% from the stock’s current price.

CBOE has been the subject of a number of other reports. Wells Fargo & Company increased their target price on shares of Cboe Global Markets from $309.00 to $357.00 and gave the stock an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on Cboe Global Markets from $288.00 to $332.00 and gave the stock an “underweight” rating in a report on Wednesday, October 28th. TD Cowen upped their target price on Cboe Global Markets from $334.00 to $342.00 and gave the company a “buy” rating in a report on Monday, October 12th. Barclays cut their price target on shares of Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Finally, The Goldman Sachs Group upgraded shares of Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $342.82.

Cboe Global Markets Price Performance

Shares of CBOE stock traded up $7.11 on Friday, reaching $342.64. The company’s stock had a trading volume of 66,726 shares, compared to its average volume of 1,133,071. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. Cboe Global Markets has a 12-month low of $227.15 and a 12-month high of $371.18. The company has a market capitalization of $36.34 billion, a P/E ratio of 176.62 and a beta of 0.61. The stock’s 50 day simple moving average is $294.61 and its 200-day simple moving average is $291.85.

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

Cboe Global Markets declared that its board has initiated a share repurchase program on Thursday, October 22nd that allows the company to buy back $550 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.6% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Janet Froetscher sold 937 shares of Cboe Global Markets stock in a transaction on Wednesday, August 12th. The stock was 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 in the company, valued at approximately $3,590,086.50. The trade was a 6.79% decrease in their ownership of the stock. The transaction 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 currently owned by insiders.

Institutional Trading of Cboe Global Markets

A number of hedge funds and other institutional investors have recently modified their holdings of CBOE. BlackRock Inc. bought a new position in Cboe Global Markets in the 2nd quarter worth approximately $2,474,799,000. Deutsche Bank AG bought a new stake in shares of Cboe Global Markets in the second quarter worth about $491,465,000. Jupiter Topco LLC bought a new position in Cboe Global Markets during the second quarter valued at approximately $304,917,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cboe Global Markets by 5.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 987,606 shares of the company’s stock valued at $239,662,000 after buying an additional 51,784 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Cboe Global Markets by 2.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 875,775 shares of the company’s stock valued at $236,512,000 after purchasing an additional 17,321 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

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.