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

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 brokerage currently has a $51.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.10% from the stock’s previous close.

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. “

INFO has been the topic of a number of other reports. Royal Bank of Canada restated a “buy” rating and issued a $52.00 price objective on shares of IHS Markit in a research note on Wednesday, December 20th. SunTrust Banks upgraded IHS Markit from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Goldman Sachs Group began coverage on IHS Markit in a research note on Wednesday, November 8th. They issued a “buy” rating and a $55.00 price objective on the stock. BidaskClub cut IHS Markit from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 30th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $54.00 price objective on shares of IHS Markit in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $49.14.

Shares of IHS Markit (NASDAQ INFO) traded up $0.58 during trading hours on Thursday, hitting $44.31. 2,434,485 shares of the company were exchanged, compared to its average volume of 2,495,922. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $17,627.14, a P/E ratio of 26.53, a P/E/G ratio of 2.07 and a beta of 0.83. IHS Markit has a 52 week low of $37.82 and a 52 week high of $49.19.

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

In other news, EVP Adam Jason Kansler sold 50,000 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the sale, the executive vice president now directly owns 146,612 shares in the company, valued at $7,037,376. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert P. Kelly purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were bought at an average price of $48.69 per share, for a total transaction of $486,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 208,562 shares of company stock worth $9,923,853.

Institutional investors and hedge funds have recently made changes to their positions in the company. State Treasurer State of Michigan increased its position 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 buying an additional 5,900 shares during the period. Swiss National Bank grew 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 worth $66,118,000 after purchasing an additional 149,200 shares in the last quarter. Bank of New York Mellon Corp grew 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 worth $107,672,000 after purchasing an additional 188,205 shares in the last quarter. Kornitzer Capital Management Inc. KS grew 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 worth $21,428,000 after purchasing an additional 12,625 shares in the last quarter. Finally, AMP Capital Investors Ltd grew 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 worth $9,378,000 after purchasing an additional 33,707 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

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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.

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