IHS Markit Ltd. (INFO) Lowered to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of IHS Markit Ltd. (NASDAQ:INFO) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
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 subject of a number of other reports. Deutsche Bank AG reissued a buy rating and issued a $52.00 price target (up from $50.00) on shares of IHS Markit in a report on Friday, June 16th. BMO Capital Markets reaffirmed an outperform rating and set a $50.00 price objective (down previously from $52.00) on shares of IHS Markit in a research note on Wednesday, September 27th. Royal Bank Of Canada reaffirmed an outperform rating and set a $50.00 price objective (up previously from $48.00) on shares of IHS Markit in a research note on Wednesday, June 28th. UBS AG reiterated a neutral rating and set a $47.00 price objective (up previously from $43.00) on shares of IHS Markit in a research report on Friday, June 30th. Finally, Bank of America Corporation dropped their price objective on IHS Markit from $52.00 to $50.00 and set a buy rating for the company in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $46.67.
IHS Markit (NASDAQ:INFO) opened at 44.08 on Friday. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 46.30 and a beta of 0.85. IHS Markit has a 12-month low of $34.13 and a 12-month high of $48.53. The stock’s 50 day moving average price is $46.63 and its 200 day moving average price is $44.96.
IHS Markit (NASDAQ:INFO) last issued its quarterly earnings data on Tuesday, September 26th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. IHS Markit had a return on equity of 8.79% and a net margin of 11.35%. The firm had revenue of $904.70 million during the quarter, compared to the consensus estimate of $890.99 million. During the same period in the previous year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. Analysts forecast that IHS Markit will post $2.06 EPS for the current fiscal year.
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In other IHS Markit news, EVP Jonathan Gear sold 30,004 shares of IHS Markit stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $44.43, for a total value of $1,333,077.72. Following the completion of the sale, the executive vice president now owns 328,874 shares in the company, valued at approximately $14,611,871.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Lance Darrell Gordon Uggla sold 112,162 shares of IHS Markit stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $47.27, for a total value of $5,301,897.74. Following the completion of the sale, the president now owns 461,344 shares of the company’s stock, valued at approximately $21,807,730.88. The disclosure for this sale can be found here. Insiders have sold 1,031,463 shares of company stock worth $48,308,385 over the last quarter.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of IHS Markit by 10.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 31,460 shares of the business services provider’s stock worth $1,320,000 after acquiring an additional 3,000 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of IHS Markit by 7.9% in the first quarter. UBS Asset Management Americas Inc. now owns 871,283 shares of the business services provider’s stock worth $36,550,000 after acquiring an additional 63,463 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of IHS Markit in the first quarter worth approximately $1,469,000. Parametric Portfolio Associates LLC boosted its position in shares of IHS Markit by 100.9% in the first quarter. Parametric Portfolio Associates LLC now owns 214,566 shares of the business services provider’s stock worth $9,001,000 after acquiring an additional 107,788 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of IHS Markit by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 4,175 shares of the business services provider’s stock worth $175,000 after acquiring an additional 695 shares during the last quarter. 96.06% of the stock is owned by institutional investors.
About IHS Markit
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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