Morgan Stanley Upgrades Cboe Global Markets (BATS:CBOE) to Overweight

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

Several other equities research analysts also recently commented on CBOE. JPMorgan Chase & Co. upped their target price on shares of Cboe Global Markets from $277.00 to $288.00 and gave the company an “underweight” rating in a research note on Tuesday, July 28th. Wells Fargo & Company started coverage on shares of Cboe Global Markets in a research report on Friday, October 2nd. They set an “equal weight” rating and a $301.00 price target on the stock. Loop Capital set a $343.00 price objective on shares of Cboe Global Markets in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Cboe Global Markets in a research note on Monday, August 3rd. Finally, TD Cowen upgraded Cboe Global Markets from a “hold” rating to a “buy” rating and lifted their target price for the stock from $315.00 to $334.00 in a report on Monday. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $320.45.

Cboe Global Markets Price Performance

Shares of CBOE opened at $294.08 on Friday. The stock has a market cap of $31.19 billion, a P/E ratio of 151.59 and a beta of 0.61. Cboe Global Markets has a 1 year low of $227.15 and a 1 year high of $371.18. The stock’s 50-day moving average price is $286.77 and its two-hundred day moving average price is $292.43. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.

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

Insider Activity

In other news, Director Janet Froetscher sold 937 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total value of $261,376.15. Following the sale, the director directly owned 12,870 shares in the company, valued at $3,590,086.50. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Cboe Global Markets during the 2nd quarter worth approximately $2,474,799,000. Deutsche Bank AG acquired a new stake in shares of Cboe Global Markets in the second quarter valued at approximately $491,465,000. Jupiter Topco LLC bought a new stake in shares of Cboe Global Markets in the second quarter worth $304,917,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cboe Global Markets by 5.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 987,606 shares of the company’s stock worth $239,662,000 after purchasing an additional 51,784 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Cboe Global Markets by 10.1% during the first quarter. Bank of America Corp DE now owns 750,833 shares of the company’s stock worth $211,037,000 after purchasing an additional 68,742 shares during the last quarter. 81.73% of the stock is currently 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.