[Business Wire] IHS Inc (NYSE:IHS)(TREND ANALYSIS) reports the outlook for the global convertible car market will not return to record levels of 831,000 convertible sales experienced in 2004 during the next decade despite a raft of new model launches.
Additionally, the IHS analysis concludes that after several years of leadership, mass-market brands offering convertible options relinquished their standing to premium brands offering new drop-top models. On a global scale, premium brands have a 55.5 percent market share compared to 33.1 percent for mass-market brands.
China growth, cultural influences influence convertible market
China’s exponential growth of the auto industry in the past decade has influenced the stagnation of the global convertible vehicle market in the past decade, though not intentionally. While there is no real culture of Chinese consumers opting for convertible passenger cars, the volumes of traditional vehicles sold in China has outpaced the overall market influencing the overall market share dynamic between traditional options and convertible body styles.
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IHS Inc (NYSE:IHS) stock is currently trading 16.34% below its 52-week-high, 11.61% above its 52-week-low. The 1-year stock price history is in the range of $106.03 – $141.45. IHS Inc (IHS) has a price to earnings ratio of 41.68 versus Technology sector average of 20.46. IHS stock price has outperformed the S&P 500 by 10.2%. The Computer Services company is currently valued at $8.1 billion and its share price closed the last trading session at $118.34. The stock has a 50-day moving average of $122.14 and a 200-day moving average of $122.43.
IHS Inc (IHS) current short interest stands at 1.45 million shares. It has decreased by 5% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.25 million shares, the number of days required to cover the short positions stand at 5.9 days.
The company is expected to announce next quarter earnings on September 29, at consensus estimate of $1.05. IHS Inc (IHS) reported last quarter earnings on June 23. The Computer Services company announced earnings per share of $1.18 against a consensus Street estimate of $1.09, beating the average estimate by $0.09. This corresponds to a decrease of $0.04 compared to the same quarter of the previous fiscal year.
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There are currently eighteen analysts that cover IHS Inc stock. Of those eighteen, six have a Buy rating, ten have a Hold rating and two have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $131.62.
A recent analyst activity consisted of Argus Research downgrading their Buy rating to Hold on March 26. On the date of report, the stock closed at $110.27.
BMO Capital reiterated their Outperform stance on the same day, and decreased their price target from $129 to $120. This corresponds to a 1.4% upside from the last closing price. On the date of report, the stock closed at $110.27.
Another research firm was Barclays who reiterated their Equal-weight stance on March 25. Barclays decreased price target from $128 to $120. This translates to a 1.4% upside from the last closing price. On the date of report, the stock closed at $110.91.
IHS Inc. provides critical information and insight in the areas of energy, product lifecycle, security, environment and macroeconomics that global business es use for decision-making and management.