Barclays Begins Coverage on IHS Markit (INFO)

Equities researchers at Barclays assumed coverage on shares of IHS Markit (NASDAQ:INFO) in a report issued on Thursday, The Fly reports. The brokerage set an “overweight” rating on the business services provider’s stock.

Other research analysts also recently issued reports about the stock. SunTrust Banks increased their target price on shares of IHS Markit to $66.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. Zacks Investment Research raised shares of IHS Markit from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, September 25th. BidaskClub raised shares of IHS Markit from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. ValuEngine raised shares of IHS Markit from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Finally, Stifel Nicolaus increased their target price on shares of IHS Markit from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. IHS Markit currently has an average rating of “Buy” and an average price target of $57.64.

IHS Markit stock opened at $51.84 on Thursday. IHS Markit has a twelve month low of $42.40 and a twelve month high of $55.99. The company has a market cap of $21.27 billion, a PE ratio of 30.86, a P/E/G ratio of 2.57 and a beta of 0.77. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.62.

IHS Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 25th. The business services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. IHS Markit had a net margin of 14.57% and a return on equity of 9.55%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.05 million. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts expect that IHS Markit will post 1.83 EPS for the current fiscal year.

In related news, CFO Todd S. Hyatt sold 14,517 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $54.01, for a total value of $784,063.17. Following the completion of the transaction, the chief financial officer now directly owns 341,598 shares of the company’s stock, valued at approximately $18,449,707.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.68% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INFO. FMR LLC boosted its holdings in IHS Markit by 10.0% in the 2nd quarter. FMR LLC now owns 16,933,612 shares of the business services provider’s stock worth $873,605,000 after buying an additional 1,539,362 shares during the period. Bank of America Corp DE boosted its holdings in IHS Markit by 57.2% in the 2nd quarter. Bank of America Corp DE now owns 2,788,798 shares of the business services provider’s stock worth $143,874,000 after buying an additional 1,015,032 shares during the period. Unigestion Holding SA bought a new position in IHS Markit in the 2nd quarter worth approximately $47,358,000. CIBC Private Wealth Group LLC boosted its holdings in IHS Markit by 52.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,801,884 shares of the business services provider’s stock worth $92,960,000 after buying an additional 621,151 shares during the period. Finally, Edgewood Management LLC boosted its holdings 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 worth $954,062,000 after buying an additional 439,429 shares during the period. 97.03% of the stock is owned by institutional investors.

IHS Markit Company Profile

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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