IHS (NYSE:IHS) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded IHS to “Hold”, while Weiss Ratings also modestly improved its rating to “hold (c).” The broader analyst consensus remains “Hold,” with an average price target of $8.80.
• IHS shares opened at $8.45, near their 52-week high of $8.95, with a market capitalization of approximately $2.86 billion. The stock has a price-to-earnings ratio of 5.35.
• The company’s latest quarterly results fell short of expectations, reporting a $0.04 per-share loss versus an anticipated $0.12 profit and revenue of $428.6 million versus estimates of $442.72 million. Institutional investors own 17.54% of IHS, with several hedge funds increasing their positions.

IHS (NYSE:IHS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of IHS from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.80.

IHS Stock Down 0.1%

IHS stock opened at $8.45 on Friday. The business has a 50 day moving average price of $8.41 and a two-hundred day moving average price of $8.31. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 5.35 and a beta of 0.74. IHS has a twelve month low of $5.71 and a twelve month high of $8.95.

IHS (NYSE:IHS - Get Free Report) last issued its earnings results on Monday, August 10th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.16). The firm had revenue of $428.60 million during the quarter, compared to analyst estimates of $442.72 million. IHS had a net margin of 8.17% and a negative return on equity of 832.09%.

Hedge Funds Weigh In On IHS

Several hedge funds have recently bought and sold shares of IHS. Groupe la Francaise grew its stake in IHS by 48.0% in the second quarter. Groupe la Francaise now owns 917,096 shares of the business services provider's stock valued at $7,557,000 after acquiring an additional 297,298 shares during the period. Gabelli Funds LLC bought a new position in shares of IHS in the 1st quarter worth $3,517,000. OMERS ADMINISTRATION Corp bought a new position in shares of IHS in the 1st quarter worth $4,129,000. Squarepoint Ops LLC lifted its holdings in shares of IHS by 60.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,149,563 shares of the business services provider's stock worth $9,472,000 after purchasing an additional 433,811 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in IHS by 42.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,586,145 shares of the business services provider's stock valued at $21,284,000 after purchasing an additional 768,286 shares during the period. 17.54% of the stock is owned by institutional investors.

About IHS

IHS Holding Limited, which trades on the New York Stock Exchange under the symbol IHS, is a telecommunications infrastructure company operating under the IHS Towers brand. The company develops, owns and manages shared communications infrastructure used by mobile network operators and other wireless service providers.

Its portfolio primarily includes telecommunications towers and related infrastructure, along with services such as site leasing, tower operations, maintenance, power management and network deployment support.

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