CBOE Holdings, Inc. (NASDAQ:CBOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, July 14th. The brokerage presently has a $104.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.23% from the company’s previous close.
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.”
A number of other brokerages also recently issued reports on CBOE. Citigroup Inc. began coverage on shares of CBOE Holdings in a research note on Wednesday, July 12th. They set a “neutral” rating and a $93.00 price objective on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $100.00 price objective (up from $90.00) on shares of CBOE Holdings in a research note on Thursday, July 13th. Deutsche Bank AG increased their price objective on shares of CBOE Holdings from $76.00 to $79.00 and gave the stock 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 reiterated a “hold” rating and set a $85.00 price objective 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 given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $76.38.
Shares of CBOE Holdings (NASDAQ CBOE) traded down 1.57% during trading on Friday, reaching $93.50. 1,228,860 shares of the company traded hands. The company has a 50-day moving average of $91.72 and a 200-day moving average of $84.01. The stock has a market capitalization of $10.48 billion, a PE ratio of 52.18 and a beta of 0.49. CBOE Holdings has a 12 month low of $61.58 and a 12 month high of $95.95.
CBOE Holdings (NASDAQ:CBOE) last released its quarterly earnings results on Friday, August 4th. The financial services provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The business had revenue of $266.90 million for the quarter, compared to the consensus estimate of $266.22 million. CBOE Holdings had a net margin of 18.03% and a return on equity of 24.30%. CBOE Holdings’s revenue was up 85.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. Analysts forecast that CBOE Holdings will post $3.37 earnings per share for the current fiscal year.
In other CBOE Holdings news, VP Christopher A. Isaacson sold 7,316 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $89.21, for a total transaction of $652,660.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Edward T. Tilly sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $86.85, for a total transaction of $434,250.00. Following the transaction, the chairman now owns 80,611 shares of the company’s stock, valued at approximately $7,001,065.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,316 shares of company stock valued at $21,150,160. Company insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in CBOE Holdings during the second quarter valued at about $120,000. TrimTabs Asset Management LLC raised its position in 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 during the last quarter. Royce & Associates LP purchased a new position in CBOE Holdings during the first quarter valued at about $180,000. Huntington National Bank bought a new stake in shares of CBOE Holdings during the second quarter valued at approximately $182,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of CBOE Holdings during the second quarter valued at approximately $183,000. Hedge funds and other institutional investors own 78.61% of the company’s stock.
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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