INC Research Holdings, Inc. (NASDAQ:INCR) Given Consensus Rating of “Hold” by Analysts
Shares of INC Research Holdings, Inc. (NASDAQ:INCR) have been given an average rating of “Hold” by the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $62.25.
INCR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of INC Research Holdings from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Wells Fargo & Company cut shares of INC Research Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. TheStreet upgraded shares of INC Research Holdings from a “c” rating to a “b-” rating in a report on Monday, April 17th. BidaskClub cut shares of INC Research Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, KeyCorp upgraded shares of INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 target price for the company in a report on Monday, June 5th.
In related news, CEO Alistair Macdonald sold 10,555 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $58.38, for a total transaction of $616,200.90. Following the transaction, the chief executive officer now owns 83,935 shares of the company’s stock, valued at $4,900,125.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christopher L. Gaenzle sold 6,873 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $58.32, for a total transaction of $400,833.36. Following the transaction, the chief accounting officer now directly owns 47,450 shares in the company, valued at approximately $2,767,284. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new position in shares of INC Research Holdings during the fourth quarter valued at $109,000. Invictus RG acquired a new position in shares of INC Research Holdings during the first quarter valued at $115,000. Foresters Investment Management Company Inc. acquired a new position in shares of INC Research Holdings during the first quarter valued at $128,000. Fifth Third Bancorp raised its position in shares of INC Research Holdings by 5.4% in the first quarter. Fifth Third Bancorp now owns 2,904 shares of the company’s stock valued at $133,000 after buying an additional 149 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of INC Research Holdings during the first quarter valued at $164,000. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
INC Research Holdings (INCR) traded down 0.27% during trading on Friday, hitting $55.35. 528,434 shares of the stock were exchanged. The stock’s 50-day moving average price is $57.78 and its 200-day moving average price is $51.67. INC Research Holdings has a 12-month low of $40.65 and a 12-month high of $61.10. The firm has a market cap of $3.00 billion, a PE ratio of 33.92 and a beta of 1.42.
INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $256.76 million. During the same period last year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts expect that INC Research Holdings will post $2.58 EPS for the current year.
INC Research Holdings Company Profile
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses 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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