CBOE Holdings, Inc. (CBOE) Stock Rating Lowered by Zacks Investment Research
CBOE Holdings, Inc. (NASDAQ:CBOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Shares of CBOE Holdings have outperformed the industry, year to date. Moreover, the company has witnessed its 2017 and 2018 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.”
Several other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada set a $100.00 price objective on shares of CBOE Holdings and gave the stock a “buy” rating in a research report on Monday. Barclays PLC assumed coverage on shares of CBOE Holdings in a research report on Friday, September 8th. They set an “equal weight” rating and a $105.00 price objective for the company. Jefferies Group LLC reiterated a “hold” rating and set a $92.00 price objective on shares of CBOE Holdings in a research report on Thursday, August 24th. BidaskClub upgraded shares of CBOE Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Finally, Deutsche Bank AG increased their price objective on shares of CBOE Holdings from $88.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $80.09.
Shares of CBOE Holdings (NASDAQ:CBOE) traded down 0.430% during trading on Friday, hitting $105.395. 833,909 shares of the stock traded hands. CBOE Holdings has a 1-year low of $61.58 and a 1-year high of $106.53. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 57.624 and a beta of 0.49. The firm has a 50-day moving average of $98.73 and a 200-day moving average of $88.55.
CBOE Holdings (NASDAQ:CBOE) last posted its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. CBOE Holdings had a net margin of 17.81% and a return on equity of 17.45%. The company had revenue of $266.90 million during the quarter, compared to analysts’ expectations of $266.22 million. During the same period in the prior year, the company posted $0.60 earnings per share. CBOE Holdings’s revenue for the quarter was up 85.2% compared to the same quarter last year. On average, equities analysts forecast that CBOE Holdings will post $3.39 earnings per share for the current year.
In other CBOE Holdings news, Director Christopher Mitchell sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $97.65, for a total value of $19,530,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher A. Isaacson sold 7,020 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $100.61, for a total transaction of $706,282.20. Following the completion of the transaction, the vice president now directly owns 97,897 shares in the company, valued at $9,849,417.17. The disclosure for this sale can be found here. Insiders sold 214,240 shares of company stock worth $20,981,248 over the last ninety days. Insiders own 1.86% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of CBOE Holdings during the second quarter valued at about $120,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of CBOE Holdings by 1.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,346 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 20 shares in the last quarter. Royce & Associates LP bought a new position in shares of CBOE Holdings during the first quarter valued at about $180,000. Huntington National Bank bought a new position in shares of CBOE Holdings during the second quarter valued at about $182,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of CBOE Holdings during the second quarter valued at about $183,000. 82.49% of the stock is currently owned by institutional investors.
CBOE Holdings Company Profile
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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