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

Zacks Investment Research upgraded shares of IHS Markit (NASDAQ:INFO) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $51.00 price objective on the business services provider’s stock.

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. “

A number of other research firms have also recently commented on INFO. BMO Capital Markets reiterated a buy rating and set a $52.00 target price on shares of IHS Markit in a research report on Wednesday, January 17th. SunTrust Banks reiterated a buy rating and set a $54.00 target price on shares of IHS Markit in a research report on Wednesday, January 17th. Stifel Nicolaus reiterated a hold rating on shares of IHS Markit in a research report on Tuesday, January 16th. Piper Jaffray Companies reiterated a buy rating and set a $54.00 target price on shares of IHS Markit in a research report on Wednesday, January 17th. Finally, Royal Bank of Canada reiterated a buy rating and set a $55.00 target price on shares of IHS Markit in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $49.14.

Shares of IHS Markit (NASDAQ:INFO) opened at $46.77 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.45. IHS Markit has a 52-week low of $37.82 and a 52-week high of $49.19. The company has a market capitalization of $18,605.76, a PE ratio of 28.01, a PEG ratio of 2.18 and a beta of 0.83.

IHS Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, January 16th. The business services provider reported $0.52 EPS for the quarter, topping the Zacks’ 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 business had revenue of $944.70 million for the quarter, compared to analysts’ expectations of $912.65 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. research analysts forecast that IHS Markit will post 1.84 EPS for the current fiscal year.

In related news, EVP Adam Jason Kansler sold 50,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was 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 owns 146,612 shares in the company, valued at approximately $7,037,376. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert P. Kelly purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was 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. Insiders sold a total of 208,562 shares of company stock worth $9,923,853 in the last 90 days.

A number of hedge funds have recently modified their holdings of INFO. BT Investment Management Ltd increased its position in IHS Markit by 156.3% in the 3rd quarter. BT Investment Management Ltd now owns 5,887,279 shares of the business services provider’s stock valued at $259,511,000 after acquiring an additional 3,590,548 shares during the period. Farallon Capital Management LLC boosted its holdings in IHS Markit by 33.0% in the 4th quarter. Farallon Capital Management LLC now owns 4,217,914 shares of the business services provider’s stock valued at $190,439,000 after purchasing an additional 1,047,215 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its holdings in IHS Markit by 105.5% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 2,015,218 shares of the business services provider’s stock valued at $90,987,000 after purchasing an additional 1,034,553 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in IHS Markit by 458.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,141,009 shares of the business services provider’s stock valued at $50,295,000 after purchasing an additional 936,666 shares in the last quarter. Finally, Sunriver Management LLC purchased a new stake in IHS Markit in the 4th quarter valued at approximately $40,253,000. Hedge funds and other institutional investors own 99.38% 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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