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

Cboe Global Markets (BATS:CBOE) had its price objective hoisted by equities research analysts at TD Cowen from $342.00 to $417.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen‘s target price suggests a potential upside of 20.45% from the company’s previous close.

CBOE has been the subject of a number of other reports. Zacks Research downgraded Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada raised their price objective on shares of Cboe Global Markets from $303.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Cboe Global Markets from $288.00 to $332.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Cboe Global Markets in a research note on Monday, August 3rd. Finally, Barclays decreased their price target on shares of Cboe Global Markets from $354.00 to $343.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $349.64.

Cboe Global Markets Stock Up 3.2%

Shares of CBOE stock traded up $10.69 on Monday, hitting $346.21. The stock had a trading volume of 391,142 shares, compared to its average volume of 1,134,423. 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 moving average of $294.61 and a 200 day moving average of $291.85. Cboe Global Markets has a 12-month low of $227.15 and a 12-month high of $371.18. The stock has a market cap of $36.72 billion, a price-to-earnings ratio of 178.40 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last released its quarterly earnings results on Friday, October 30th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $705.22 million. During the same period in the previous year, the company earned $2.67 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, analysts expect that Cboe Global Markets will post 6.41 EPS for the current year.

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

Insider Buying and Selling at Cboe Global Markets

In other 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 value of $261,376.15. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

A number of institutional investors and hedge funds have recently modified their holdings of CBOE. Emerald Investment Advisers LLC purchased a new position in shares of Cboe Global Markets in the 2nd quarter valued at approximately $3,686,000. Danske Bank A S purchased a new stake in Cboe Global Markets in the second quarter worth $658,000. Quantitative Investment Management LLC purchased a new stake in Cboe Global Markets in the second quarter worth $1,636,000. Bleakley Financial Group LLC bought a new position in Cboe Global Markets in the first quarter worth $3,831,000. Finally, Integrated Wealth Concepts LLC raised its holdings 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 worth $2,107,000 after purchasing an additional 6,598 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.