ICON PLC (ICLR) Stock Rating Upgraded by Zacks Investment Research
ICON PLC (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm presently has a $131.00 target price on the medical research company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.81% from the stock’s current price.
According to Zacks, “ICON plc is a global full service clinical research organisation. The company provides contract clinical research services to the pharmaceutical industry worldwide. “
Several other research analysts also recently commented on ICLR. ValuEngine upgraded shares of ICON PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of ICON PLC from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. SunTrust Banks, Inc. upgraded shares of ICON PLC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $93.00 to $126.00 in a research report on Monday, July 31st. KeyCorp restated an “overweight” rating on shares of ICON PLC in a research report on Monday, July 31st. Finally, Credit Suisse Group restated a “buy” rating on shares of ICON PLC in a research report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. ICON PLC currently has a consensus rating of “Buy” and a consensus price target of $111.25.
Shares of ICON PLC (ICLR) opened at 115.10 on Friday. ICON PLC has a 12-month low of $73.76 and a 12-month high of $117.53. The firm has a market capitalization of $6.22 billion, a PE ratio of 23.35 and a beta of 0.61. The company’s 50-day moving average price is $106.40 and its 200-day moving average price is $92.41.
ICON PLC (NASDAQ:ICLR) last issued its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.01. The business had revenue of $431 million during the quarter, compared to analysts’ expectations of $430.68 million. ICON PLC had a return on equity of 28.72% and a net margin of 15.97%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. Analysts anticipate that ICON PLC will post $5.32 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “ICON PLC (ICLR) Stock Rating Upgraded by Zacks Investment Research” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/09/09/icon-plc-iclr-stock-rating-upgraded-by-zacks-investment-research.html.
Several large investors have recently made changes to their positions in ICLR. Shine Investment Advisory Services Inc. acquired a new position in shares of ICON PLC during the second quarter worth $103,000. Acrospire Investment Management LLC increased its holdings in shares of ICON PLC by 20.1% during the second quarter. Acrospire Investment Management LLC now owns 1,195 shares of the medical research company’s stock worth $117,000 after buying an additional 200 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of ICON PLC by 20.7% during the second quarter. Parallel Advisors LLC now owns 1,265 shares of the medical research company’s stock worth $133,000 after buying an additional 217 shares in the last quarter. US Bancorp DE increased its holdings in shares of ICON PLC by 15.0% during the first quarter. US Bancorp DE now owns 1,929 shares of the medical research company’s stock worth $154,000 after buying an additional 251 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of ICON PLC by 5.0% during the second quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock worth $159,000 after buying an additional 77 shares in the last quarter. Institutional investors own 90.62% of the company’s stock.
About ICON PLC
ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ICON PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICON PLC and related companies with MarketBeat.com's FREE daily email newsletter.