IHS (NYSE:IHS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IHS (NYSE:IHS) to a hold rating in a report published 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 report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.80.

IHS Stock Up 0.3%

IHS stock opened at $8.46 on Friday. The business’s 50-day moving average price is $8.41 and its 200-day moving average price is $8.23. The stock has a market cap of $2.86 billion, a P/E ratio of 5.34 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) last released its quarterly earnings data on Monday, August 10th. The business services provider reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). The business had revenue of $428.60 million during the quarter, compared to the consensus estimate of $442.72 million. IHS had a negative return on equity of 832.09% and a net margin of 8.17%.

Institutional Investors Weigh In On IHS

Several institutional investors have recently added to or reduced their stakes in IHS. PSquared Asset Management AG purchased a new position in IHS in the 1st quarter worth $35,749,000. Hsbc Holdings PLC acquired a new stake in IHS during the 1st quarter worth about $33,532,000. Renaissance Technologies LLC lifted its position in IHS by 61.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,258,100 shares of the business services provider’s stock worth $18,584,000 after acquiring an additional 856,800 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in IHS by 42.3% during 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 last quarter. Finally, Groupe la Francaise purchased a new stake in IHS during the 1st quarter valued at about $5,101,000. Institutional investors and hedge funds own 17.54% of the company’s stock.

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.