IHS Markit (NASDAQ:INFO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $61.00 price target on the business services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.28% from the company’s previous close.
According to Zacks, “IHS Markit is benefiting from well-diversified global customer base and solid brand recognition. IHS Markit’s depth and breadth of information and analytics is a key competitive differentiator. Its business model ensures strong recurring revenue generation capacity, cash generation capacity and low capital requirement. Moreover, acquisitions act as key growth catalysts for IHS Markit. These acquisitions are helping the company expand offerings and strengthen international footprint. However, high acquisition related costs, seasonality and debt-laden balance sheet remain concerns. The stock has underperformed the industry in a year’s time.”
INFO has been the topic of a number of other reports. Morgan Stanley set a $49.00 price objective on IHS Markit and gave the company a “sell” rating in a research note on Thursday, September 13th. BidaskClub raised IHS Markit from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. BMO Capital Markets boosted their price objective on IHS Markit from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, September 4th. SunTrust Banks reissued a “buy” rating and issued a $61.00 price objective on shares of IHS Markit in a research note on Wednesday, June 27th. Finally, Macquarie raised IHS Markit from a “neutral” rating to an “outperform” rating in a research note on Friday, June 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.14.
IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, September 25th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.05 million. IHS Markit had a return on equity of 9.52% and a net margin of 14.57%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. equities research analysts forecast that IHS Markit will post 1.85 EPS for the current fiscal year.
In related news, Director William E. Ford sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $52.05, for a total value of $104,100,000.00. Following the completion of the sale, the director now directly owns 15,907 shares of the company’s stock, valued at approximately $827,959.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sari Beth Granat sold 25,000 shares of the business’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $51.99, for a total value of $1,299,750.00. Following the completion of the sale, the executive vice president now directly owns 30,580 shares of the company’s stock, valued at $1,589,854.20. The disclosure for this sale can be found here. Insiders sold a total of 2,050,000 shares of company stock valued at $106,724,750 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Edgewood Management LLC increased its position in IHS Markit by 2.4% in the 2nd quarter. Edgewood Management LLC now owns 18,493,151 shares of the business services provider’s stock valued at $954,062,000 after buying an additional 439,429 shares in the last quarter. FMR LLC increased its holdings in IHS Markit by 10.0% during the 2nd quarter. FMR LLC now owns 16,933,612 shares of the business services provider’s stock worth $873,605,000 after purchasing an additional 1,539,362 shares in the last quarter. American Century Companies Inc. increased its holdings in IHS Markit by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 7,165,244 shares of the business services provider’s stock worth $369,655,000 after purchasing an additional 315,286 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in IHS Markit by 0.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,422,058 shares of the business services provider’s stock worth $309,801,000 after purchasing an additional 58,592 shares in the last quarter. Finally, Farallon Capital Management LLC increased its holdings in IHS Markit by 16.5% during the 1st quarter. Farallon Capital Management LLC now owns 4,915,731 shares of the business services provider’s stock worth $237,135,000 after purchasing an additional 697,817 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.
About IHS Markit
IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.
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