Zacks Investment Research upgraded shares of CBOE Holdings, Inc. (NASDAQ:CBOE) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $104.00 price target on the financial services provider’s stock.
According to Zacks, “Shares of CBOE Holdings have outperformed the Zacks categorized Securities Exchanges industry, year to date. The company has also been witnessing estimates moving north over the last 60 days. CBOE Holdings remains focused on expansion of its proprietary product offering, while extending its global customer reach. Diversified product portfolio and core competencies fuel its growth prospects. Also, the acquisition of Bats Global Markets is a strategic fit as it will expand and diversify CBOE Holdings’ product portfolio and boost margins. However, intense competition and escalating costs remain concerns for CBOE Holdings. The company estimates capital expenditure in 2017 between $55 million and $60 million. The company is set to report second quarter results on Aug 4. However a favorable Zacks Rank when combined with Earnings ESP of 0.00% makes prediction difficult for earnings beat or miss.”
Several other brokerages also recently commented on CBOE. Citigroup Inc. assumed coverage on shares of CBOE Holdings in a research note on Wednesday, July 12th. They issued a neutral rating and a $93.00 target price on the stock. Royal Bank Of Canada restated an outperform rating and issued a $100.00 target price (up previously from $90.00) on shares of CBOE Holdings in a research note on Thursday. Deutsche Bank AG boosted their target price on shares of CBOE Holdings from $76.00 to $79.00 and gave the company a hold rating in a research note on Tuesday, July 4th. BidaskClub upgraded shares of CBOE Holdings from a buy rating to a strong-buy rating in a research note on Friday, June 30th. Finally, Jefferies Group LLC restated a hold rating and issued a $85.00 target price on shares of CBOE Holdings in a research note on Monday, April 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $76.38.
CBOE Holdings (CBOE) traded up 0.04% on Friday, hitting $92.02. 669,925 shares of the stock were exchanged. The stock has a market cap of $10.31 billion, a PE ratio of 51.35 and a beta of 0.49. The company’s 50 day moving average is $87.49 and its 200 day moving average is $81.02. CBOE Holdings has a 1-year low of $61.58 and a 1-year high of $93.55.
CBOE Holdings (NASDAQ:CBOE) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.10. The firm had revenue of $193.40 million for the quarter, compared to analyst estimates of $208.30 million. CBOE Holdings had a net margin of 18.03% and a return on equity of 24.30%. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, equities research analysts expect that CBOE Holdings will post $3.38 earnings per share for the current year.
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In other CBOE Holdings news, Chairman Edward T. Tilly sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $86.85, for a total transaction of $434,250.00. Following the completion of the sale, the chairman now directly owns 80,611 shares of the company’s stock, valued at approximately $7,001,065.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Mitchell sold 225,000 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $89.17, for a total value of $20,063,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 237,316 shares of company stock valued at $21,150,160 over the last three months. Company insiders own 0.96% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CBOE. TrimTabs Asset Management LLC boosted its stake in shares of CBOE Holdings by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the financial services provider’s stock valued at $128,000 after buying an additional 744 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of CBOE Holdings during the first quarter valued at $180,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of CBOE Holdings during the second quarter valued at $183,000. Oppenheimer & Co. Inc. purchased a new stake in shares of CBOE Holdings during the first quarter valued at $201,000. Finally, Soros Fund Management LLC purchased a new stake in shares of CBOE Holdings during the first quarter valued at $227,000. 78.50% of the stock is owned by hedge funds and other institutional investors.
About CBOE Holdings
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis, and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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