S&P Global (NYSE:SPGI) Price Target Raised to $610.00

S&P Global (NYSE:SPGI) had its price target hoisted by analysts at Barclays from $550.00 to $610.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price would indicate a potential upside of 17.43% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Bank of America raised their target price on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada raised their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their target price on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $548.18.

S&P Global Stock Performance

NYSE SPGI opened at $519.45 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $162.59 billion, a price-to-earnings ratio of 58.23, a P/E/G ratio of 2.68 and a beta of 1.17. The firm’s 50 day simple moving average is $493.49 and its 200 day simple moving average is $451.76. S&P Global has a 1 year low of $340.49 and a 1 year high of $524.14.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.37. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $3.12 EPS. As a group, research analysts expect that S&P Global will post 14.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock valued at $8,645,727 over the last quarter. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On S&P Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC bought a new stake in S&P Global in the fourth quarter valued at $26,000. Sachetta LLC increased its stake in S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Pineridge Advisors LLC bought a new stake in S&P Global in the fourth quarter valued at $26,000. HWG Holdings LP bought a new stake in S&P Global in the second quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in S&P Global in the second quarter valued at $31,000. 87.17% of the stock is owned by institutional investors.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.