Zacks Investment Research Upgrades IHS Markit (INFO) to “Buy”

IHS Markit (NASDAQ:INFO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $51.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.04% from the stock’s current price.

According to Zacks, “IHS Markit Ltd. provides information, analytics and solutions to customers. It serves business, finance and government. IHS Markit Ltd., formerly known as Markit Ltd., is based in LONDON, United Kingdom. “

Several other equities research analysts have also weighed in on the company. William Blair raised IHS Markit from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 1st. BidaskClub lowered IHS Markit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of IHS Markit in a research report on Friday, January 19th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $54.00 target price on shares of IHS Markit in a research report on Wednesday, January 17th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $52.00 target price on shares of IHS Markit in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. IHS Markit presently has a consensus rating of “Buy” and an average price target of $49.14.

IHS Markit (NASDAQ INFO) opened at $46.77 on Thursday. IHS Markit has a one year low of $37.82 and a one year high of $49.19. The stock has a market capitalization of $18,339.24, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.53 and a current ratio of 0.53.

IHS Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, January 16th. The business services provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.10. IHS Markit had a return on equity of 8.98% and a net margin of 11.58%. The firm had revenue of $944.70 million for the quarter, compared to analyst estimates of $912.65 million. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. analysts predict that IHS Markit will post 1.84 EPS for the current fiscal year.

In other news, CFO Todd S. Hyatt sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $47.40, for a total transaction of $1,185,000.00. Following the transaction, the chief financial officer now directly owns 415,128 shares of the company’s stock, valued at $19,677,067.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam Jason Kansler sold 50,000 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $48.00, for a total value of $2,400,000.00. Following the transaction, the executive vice president now directly owns 146,612 shares in the company, valued at $7,037,376. The disclosure for this sale can be found here. Insiders have sold 208,562 shares of company stock worth $9,923,853 over the last three months.

Institutional investors and hedge funds have recently modified their holdings of the company. State Treasurer State of Michigan increased its holdings in shares of IHS Markit by 5.7% during the third quarter. State Treasurer State of Michigan now owns 110,200 shares of the business services provider’s stock valued at $4,858,000 after purchasing an additional 5,900 shares during the period. Swiss National Bank increased its holdings in shares of IHS Markit by 11.0% during the third quarter. Swiss National Bank now owns 1,499,957 shares of the business services provider’s stock valued at $66,118,000 after purchasing an additional 149,200 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of IHS Markit by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 2,442,648 shares of the business services provider’s stock valued at $107,672,000 after purchasing an additional 188,205 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of IHS Markit by 2.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 486,113 shares of the business services provider’s stock valued at $21,428,000 after purchasing an additional 12,625 shares during the period. Finally, AMP Capital Investors Ltd increased its holdings in shares of IHS Markit by 18.8% during the third quarter. AMP Capital Investors Ltd now owns 212,779 shares of the business services provider’s stock valued at $9,378,000 after purchasing an additional 33,707 shares during the period. 99.38% of the stock is currently owned by institutional investors.

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IHS Markit Company Profile

IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings.

Analyst Recommendations for IHS Markit (NASDAQ:INFO)

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