Cboe Global Markets (BATS:CBOE) Stock Price Target Raised at JPMorgan Chase & Co.

Cboe Global Markets (BATS:CBOE) had its target price upped by research analysts at JPMorgan Chase & Co. from $288.00 to $332.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.01% from the stock’s previous close.

A number of other research analysts also recently weighed in on CBOE. TD Cowen raised their price target on shares of Cboe Global Markets from $334.00 to $342.00 and gave the company a “buy” rating in a report on Monday, October 12th. Barclays reduced their price objective 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. Piper Sandler decreased their price objective on shares of Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Morgan Stanley reissued an “overweight” rating and set a $450.00 target price on shares of Cboe Global Markets in a research report on Friday, October 23rd. Finally, Wells Fargo & Company raised their target price on Cboe Global Markets from $301.00 to $309.00 and gave the company an “equal weight” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $333.27.

Cboe Global Markets Stock Down 0.7%

CBOE traded down $2.37 during midday trading on Wednesday, hitting $322.31. 374,767 shares of the company’s stock traded hands, compared to its average volume of 1,129,560. The company has a market cap of $34.18 billion, a PE ratio of 165.93 and a beta of 0.61. The stock’s fifty day simple moving average is $292.52 and its 200-day simple moving average is $290.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. Cboe Global Markets has a one year low of $227.15 and a one year high of $371.18.

Cboe Global Markets (BATS:CBOE) last posted its earnings results on Friday, July 31st. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.07. The firm had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $716.61 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 earnings per share. As a group, equities analysts anticipate that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 22nd that authorizes the company to buy back $550 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.6% of its shares through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Cboe Global Markets

In other news, Director Janet Froetscher sold 937 shares of Cboe Global Markets stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $278.95, for a total value of $261,376.15. Following the transaction, the director owned 12,870 shares of the company’s stock, valued at $3,590,086.50. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Cboe Global Markets

Several large investors have recently modified their holdings of CBOE. BlackRock Inc. acquired a new position in Cboe Global Markets in the 2nd quarter valued at $2,474,799,000. Deutsche Bank AG bought a new position in Cboe Global Markets in the 2nd quarter worth $491,465,000. Jupiter Topco LLC acquired a new position in Cboe Global Markets during the 2nd quarter worth $304,917,000. Legal & General Group Plc acquired a new position in Cboe Global Markets during the 2nd quarter worth $175,870,000. Finally, Bank of America Corp DE acquired a new position in Cboe Global Markets during the 2nd quarter worth $162,794,000. 81.73% of the stock is owned by 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.