IHS Markit (NYSE:INFO) Price Target Raised to $90.00

IHS Markit (NYSE:INFO) had its target price lifted by Wells Fargo & Co from $70.00 to $90.00 in a report released on Wednesday, The Fly reports. They currently have an overweight rating on the business services provider’s stock.

Several other analysts also recently commented on INFO. Royal Bank of Canada boosted their target price on shares of IHS Markit from $84.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday. Cantor Fitzgerald decreased their target price on shares of IHS Markit from $74.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, March 25th. UBS Group raised shares of IHS Markit from a neutral rating to a buy rating and boosted their target price for the stock from $63.00 to $85.00 in a research report on Wednesday. Deutsche Bank upped their price objective on shares of IHS Markit from $71.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, June 16th. Finally, SunTrust Banks upped their price objective on shares of IHS Markit from $65.00 to $87.00 and gave the stock a buy rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $80.17.

Shares of INFO opened at $72.69 on Wednesday. The company’s 50 day moving average price is $69.68 and its 200 day moving average price is $70.68. IHS Markit has a 52 week low of $44.81 and a 52 week high of $81.65. The company has a market capitalization of $30.79 billion, a PE ratio of 33.46, a PEG ratio of 2.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.70.

IHS Markit (NYSE:INFO) last posted its earnings results on Tuesday, June 23rd. The business services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.05 billion. IHS Markit had a net margin of 18.43% and a return on equity of 10.66%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that IHS Markit will post 2.27 earnings per share for the current fiscal year.

In other news, CEO Lance Darrell Gordon Uggla sold 496,764 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $67.03, for a total value of $33,298,090.92. Following the sale, the chief executive officer now owns 1,707,352 shares of the company’s stock, valued at approximately $114,443,804.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Ford bought 2,983 shares of the stock in a transaction dated Wednesday, April 1st. The stock was purchased at an average cost of $58.30 per share, for a total transaction of $173,908.90. Following the acquisition, the director now owns 45,166 shares in the company, valued at approximately $2,633,177.80. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 627,147 shares of company stock valued at $42,074,145. Corporate insiders own 0.75% of the company’s stock.

Large investors have recently modified their holdings of the business. Covington Capital Management bought a new stake in IHS Markit during the 4th quarter worth about $30,000. Engrave Wealth Partners LLC bought a new position in shares of IHS Markit in the 4th quarter valued at about $32,000. Cognios Capital LLC bought a new position in shares of IHS Markit in the 1st quarter valued at about $28,000. Valeo Financial Advisors LLC boosted its stake in shares of IHS Markit by 465.6% in the 1st quarter. Valeo Financial Advisors LLC now owns 724 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 596 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of IHS Markit in the 4th quarter valued at about $14,128,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

About IHS Markit

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.

Further Reading: Backdoor Roth IRA Conversion and Strategy

The Fly

Analyst Recommendations for IHS Markit (NYSE:INFO)

Receive News & Ratings for IHS Markit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IHS Markit and related companies with MarketBeat.com's FREE daily email newsletter.