Zacks Investment Research Upgrades Markit Ltd. (INFO) to Strong-Buy
Markit Ltd. (NASDAQ:INFO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage currently has a $42.00 target price on the stock. Zacks Investment Research’s price objective points to a potential upside of 17.85% from the company’s current price.
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. “
Several other research analysts have also recently commented on the stock. Bank of America Corp. initiated coverage on shares of Markit in a research report on Friday, July 15th. They issued a “buy” rating and a $40.00 target price for the company. Royal Bank Of Canada upgraded shares of Markit from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $42.00 in a report on Thursday, July 21st. RBC Capital Markets upgraded shares of Markit from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $42.00 in a report on Thursday, July 21st. Morgan Stanley assumed coverage on shares of Markit in a report on Friday, July 15th. They issued an “underweight” rating for the company. Finally, Credit Suisse Group AG reiterated a “neutral” rating and issued a $37.00 price objective on shares of Markit in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.01.
Markit (NASDAQ:INFO) opened at 35.64 on Monday. Markit has a 12 month low of $26.01 and a 12 month high of $37.83. The company’s 50 day moving average price is $36.53 and its 200 day moving average price is $34.57. The firm has a market capitalization of $6.26 billion, a P/E ratio of 55.77 and a beta of 0.94.
Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, September 27th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. Markit had a net margin of 9.00% and a return on equity of 8.65%. The firm earned $724.60 million during the quarter, compared to analysts’ expectations of $557.90 million. During the same quarter in the prior year, the firm earned $0.36 EPS. Markit’s quarterly revenue was up 29.9% on a year-over-year basis. Analysts anticipate that Markit will post $1.76 EPS for the current year.
In related news, EVP Jonathan Gear sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $36.00, for a total value of $540,000.00. Following the completion of the sale, the executive vice president now owns 319,287 shares in the company, valued at approximately $11,494,332. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jerre L. Stead sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $35.05, for a total transaction of $2,453,500.00. Following the completion of the sale, the chief executive officer now owns 843,380 shares of the company’s stock, valued at approximately $29,560,469. The disclosure for this sale can be found here.
Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. The Company’s business is organized in three segments: Information, Processing and Solutions.
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