Royal Bank of Canada Reaffirms Sector Perform Rating for Cboe Global Markets (BATS:CBOE)

Cboe Global Markets (BATS:CBOE)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $220.00 price objective on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 4.69% from the company’s previous close.

A number of other research firms have also recently weighed in on CBOE. Deutsche Bank Aktiengesellschaft raised their price objective on Cboe Global Markets from $186.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. TD Cowen assumed coverage on Cboe Global Markets in a research report on Thursday, September 26th. They set a “hold” rating and a $205.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Oppenheimer upped their target price on Cboe Global Markets from $199.00 to $209.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised Cboe Global Markets from an “underweight” rating to a “neutral” rating and upped their target price for the company from $168.00 to $195.00 in a research report on Monday, August 5th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $201.62.

Cboe Global Markets Stock Down 0.8 %

Shares of BATS CBOE opened at $210.15 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $22.29 billion, a PE ratio of 108.33 and a beta of 0.61. The stock’s fifty day simple moving average is $204.40 and its two-hundred day simple moving average is $186.90. Cboe Global Markets has a 12-month low of $103.82 and a 12-month high of $139.00.

Cboe Global Markets (BATS:CBOE) last announced its earnings results on Friday, August 2nd. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.05. The business had revenue of $513.80 million for the quarter, compared to analysts’ expectations of $514.51 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. As a group, analysts expect that Cboe Global Markets will post 6.41 EPS for the current fiscal year.

Cboe Global Markets declared that its board has authorized a stock repurchase plan on Friday, August 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total transaction of $346,021.26. Following the transaction, the chief financial officer now owns 8,844 shares in the company, valued at $1,886,690.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cboe Global Markets news, EVP Catherine R. Clay sold 600 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $203.23, for a total transaction of $121,938.00. Following the completion of the sale, the executive vice president now owns 4,328 shares of the company’s stock, valued at $879,579.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jill Griebenow sold 1,622 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total value of $346,021.26. Following the sale, the chief financial officer now directly owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. The disclosure for this sale can be found here. Insiders have sold a total of 18,261 shares of company stock worth $3,604,822 over the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cboe Global Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Czech National Bank grew its stake in shares of Cboe Global Markets by 6.4% in the third quarter. Czech National Bank now owns 21,315 shares of the company’s stock valued at $4,367,000 after buying an additional 1,276 shares in the last quarter. Cim LLC grew its stake in shares of Cboe Global Markets by 3.4% in the second quarter. Cim LLC now owns 5,998 shares of the company’s stock valued at $1,020,000 after buying an additional 200 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Cboe Global Markets in the second quarter valued at $1,134,000. Truist Financial Corp grew its stake in shares of Cboe Global Markets by 11.1% in the second quarter. Truist Financial Corp now owns 25,625 shares of the company’s stock valued at $4,358,000 after buying an additional 2,550 shares in the last quarter. Finally, Regal Investment Advisors LLC grew its stake in shares of Cboe Global Markets by 0.3% in the second quarter. Regal Investment Advisors LLC now owns 22,274 shares of the company’s stock valued at $3,788,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds 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.