Cboe Global Markets (BATS:CBOE) Stock Rating Raised to Overweight at Morgan Stanley

Cboe Global Markets (BATS:CBOE) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a report issued on Friday, Benzinga reports. The firm presently has a $358.00 price objective on the stock, up from their prior price objective of $258.00. Morgan Stanley’s price objective would suggest a potential upside of 21.74% from the company’s current price.

Several other research firms have also recently weighed in on CBOE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Cboe Global Markets in a research note on Monday, August 3rd. TD Cowen upgraded shares of Cboe Global Markets from a “hold” rating to a “buy” rating and increased their price target for the company from $315.00 to $334.00 in a research note on Monday. Loop Capital set a $343.00 price objective on shares of Cboe Global Markets in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Cboe Global Markets from $277.00 to $288.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 28th. Finally, Zacks Research cut shares of Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cboe Global Markets currently has a consensus rating of “Hold” and an average target price of $320.45.

Cboe Global Markets Stock Performance

CBOE opened at $294.08 on Friday. The business’s 50-day simple moving average is $286.77 and its 200 day simple moving average is $292.43. Cboe Global Markets has a 52-week low of $227.15 and a 52-week high of $371.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $31.19 billion, a PE ratio of 151.59 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.56 earnings per share 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 the consensus estimate of $716.61 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%.The business’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. As a group, sell-side analysts expect that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cboe Global Markets

In other news, Director Janet Froetscher sold 937 shares of the stock in a transaction dated 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 directly owned 12,870 shares of the company’s stock, valued at $3,590,086.50. This represents 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by insiders.

Institutional Trading of Cboe Global Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stableford Capital II LLC bought a new position in Cboe Global Markets in the 3rd quarter valued at about $1,479,000. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Cboe Global Markets by 401.0% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 153,008 shares of the company’s stock worth $42,122,000 after acquiring an additional 122,469 shares during the period. Bell Asset Management Ltd bought a new stake in shares of Cboe Global Markets during the third quarter worth approximately $2,483,000. Farther Finance Advisors LLC grew its position in shares of Cboe Global Markets by 317.6% in the third quarter. Farther Finance Advisors LLC now owns 13,592 shares of the company’s stock valued at $3,742,000 after purchasing an additional 10,337 shares during the last quarter. Finally, Sapient Capital LLC acquired a new position in shares of Cboe Global Markets in the third quarter valued at approximately $7,037,000. Institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Company Profile

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.