INC Research Holdings Inc. (INCR) Given Consensus Recommendation of “Buy” by Brokerages
INC Research Holdings Inc. (NASDAQ:INCR) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the stock. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $55.00.
A number of analysts have recently commented on the company. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and issued a $82.00 price target on shares of INC Research Holdings in a research note on Thursday, September 8th. Zacks Investment Research raised INC Research Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price target for the company in a research note on Friday, August 19th. Jefferies Group lowered their price target on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th. Finally, Credit Suisse Group AG assumed coverage on INC Research Holdings in a research note on Monday, June 20th. They issued an “outperform” rating and a $51.00 price target for the company.
In other INC Research Holdings news, VP Gregory S. Rush sold 35,503 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $44.70, for a total transaction of $1,586,984.10. Following the completion of the transaction, the vice president now owns 82,712 shares of the company’s stock, valued at approximately $3,697,226.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gregory S. Rush sold 4,066 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $45.23, for a total value of $183,905.18. Following the transaction, the vice president now directly owns 22,165 shares of the company’s stock, valued at approximately $1,002,522.95. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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A number of institutional investors have recently added to or reduced their stakes in INCR. Glenmede Trust Co. NA purchased a new position in INC Research Holdings during the first quarter worth $465,000. Pacad Investment Ltd. purchased a new position in INC Research Holdings during the first quarter worth $218,000. Prudential Financial Inc. increased its position in INC Research Holdings by 294.6% in the first quarter. Prudential Financial Inc. now owns 63,919 shares of the company’s stock worth $2,634,000 after buying an additional 47,719 shares during the period. BlackRock Group LTD increased its position in INC Research Holdings by 30.2% in the first quarter. BlackRock Group LTD now owns 48,764 shares of the company’s stock worth $2,010,000 after buying an additional 11,305 shares during the period. Finally, BlackRock Fund Advisors increased its position in INC Research Holdings by 4.1% in the first quarter. BlackRock Fund Advisors now owns 1,030,807 shares of the company’s stock worth $42,480,000 after buying an additional 40,140 shares during the period. 91.23% of the stock is owned by hedge funds and other institutional investors.
INC Research Holdings (NASDAQ:INCR) traded down 0.67% during mid-day trading on Monday, reaching $44.65. 100,657 shares of the company’s stock were exchanged. INC Research Holdings has a 52-week low of $34.19 and a 52-week high of $57.11. The company has a market cap of $2.44 billion, a PE ratio of 22.02 and a beta of 1.80. The stock has a 50-day moving average price of $44.32 and a 200 day moving average price of $43.74.
INC Research Holdings (NASDAQ:INCR) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company earned $258.80 million during the quarter, compared to analysts’ expectations of $252.39 million. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. INC Research Holdings’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. Equities analysts predict that INC Research Holdings will post $2.47 earnings per share for the current fiscal year.
About INC Research Holdings
INC Research Holdings, Inc is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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