INC Research Holdings Inc (NASDAQ:INCR) was downgraded by research analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $48.00 target price on the stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 8.47% from the stock’s previous close.

INCR has been the subject of several other reports. Zacks Investment Research upgraded INC Research Holdings from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, November 22nd. Jefferies Group LLC boosted their price target on INC Research Holdings from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Goldman Sachs Group Inc downgraded INC Research Holdings from a “conviction-buy” rating to a “buy” rating and set a $51.00 price target for the company. in a research note on Wednesday, March 1st. William Blair restated an “outperform” rating on shares of INC Research Holdings in a research note on Wednesday, March 1st. Finally, First Analysis started coverage on INC Research Holdings in a research note on Monday, December 19th. They set an “equal weight” rating and a $59.00 price target for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. INC Research Holdings presently has a consensus rating of “Buy” and an average target price of $51.56.

Analyst Recommendations for INC Research Holdings (NASDAQ:INCR)

Shares of INC Research Holdings (NASDAQ:INCR) traded down 2.43% during midday trading on Monday, reaching $44.25. 768,516 shares of the company were exchanged. INC Research Holdings has a 12-month low of $36.70 and a 12-month high of $57.11. The company has a 50 day moving average price of $50.39 and a 200-day moving average price of $48.54. The stock has a market capitalization of $2.39 billion, a P/E ratio of 21.80 and a beta of 1.74.

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INC Research Holdings (NASDAQ:INCR) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The company earned $263 million during the quarter, compared to the consensus estimate of $269 million. During the same period last year, the company earned $0.54 EPS. INC Research Holdings’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts forecast that INC Research Holdings will post $2.66 earnings per share for the current fiscal year.

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In related news, VP Gregory S. Rush sold 2,907 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $50.57, for a total transaction of $147,006.99. Following the completion of the transaction, the vice president now directly owns 45,782 shares in the company, valued at approximately $2,315,195.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Gaenzle sold 1,186 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $50.09, for a total value of $59,406.74. Following the transaction, the chief accounting officer now owns 40,223 shares of the company’s stock, valued at $2,014,770.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,136 shares of company stock valued at $1,447,611. 1.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nicholas Co. Inc. WI increased its position in shares of INC Research Holdings by 0.4% in the fourth quarter. Nicholas Co. Inc. WI now owns 116,680 shares of the company’s stock worth $6,137,000 after buying an additional 445 shares during the period. Argent Capital Management LLC increased its position in shares of INC Research Holdings by 10.4% in the third quarter. Argent Capital Management LLC now owns 6,465 shares of the company’s stock worth $288,000 after buying an additional 610 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of INC Research Holdings by 6.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,843 shares of the company’s stock worth $781,000 after buying an additional 840 shares during the period. California State Teachers Retirement System increased its position in shares of INC Research Holdings by 1.0% in the third quarter. California State Teachers Retirement System now owns 87,738 shares of the company’s stock worth $3,911,000 after buying an additional 900 shares during the period. Finally, Acrospire Investment Management LLC increased its position in shares of INC Research Holdings by 38.1% in the third quarter. Acrospire Investment Management LLC now owns 4,350 shares of the company’s stock worth $194,000 after buying an additional 1,200 shares during the period. Institutional investors own 99.79% of the company’s stock.

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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