INC Research (INCR) Rating Increased to Hold at BidaskClub
INC Research (NASDAQ:INCR) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
Other research analysts have also recently issued research reports about the company. TheStreet upgraded INC Research from a “c” rating to a “b-” rating in a research note on Monday, November 6th. Robert W. Baird set a $46.00 price objective on INC Research and gave the company a “buy” rating in a research note on Thursday, November 16th. Jefferies Group restated a “buy” rating and set a $55.00 price objective on shares of INC Research in a research note on Friday, November 10th. Zacks Investment Research upgraded INC Research from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Wednesday, September 27th. Finally, SunTrust Banks cut their price objective on INC Research to $50.00 and set a “buy” rating on the stock in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. INC Research presently has a consensus rating of “Hold” and an average target price of $52.67.
Shares of INC Research (INCR) traded up $1.35 during midday trading on Thursday, hitting $39.30. The stock had a trading volume of 842,887 shares, compared to its average volume of 928,713. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.27 and a quick ratio of 1.27. INC Research has a 52 week low of $33.60 and a 52 week high of $61.10. The stock has a market capitalization of $3,980.76, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08.
In other INC Research news, CAO Christopher L. Gaenzle sold 4,682 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.56, for a total transaction of $255,449.92. Following the completion of the transaction, the chief accounting officer now directly owns 60,579 shares of the company’s stock, valued at approximately $3,305,190.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory S. Rush sold 9,703 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $54.48, for a total value of $528,619.44. Following the transaction, the chief financial officer now directly owns 78,593 shares of the company’s stock, valued at $4,281,746.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,733 shares of company stock valued at $912,270. 0.24% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INCR. Aperio Group LLC bought a new stake in shares of INC Research during the 2nd quarter worth $685,000. Strs Ohio boosted its stake in shares of INC Research by 0.8% during the 2nd quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $1,474,000 after acquiring an additional 200 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of INC Research by 469.6% in the second quarter. Great West Life Assurance Co. Can now owns 32,325 shares of the company’s stock valued at $1,889,000 after purchasing an additional 26,650 shares in the last quarter. Texas Permanent School Fund purchased a new stake in shares of INC Research in the second quarter valued at $2,311,000. Finally, Retirement Systems of Alabama purchased a new stake in shares of INC Research in the second quarter valued at $5,964,000. 99.56% of the stock is owned by institutional investors and hedge funds.
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About INC Research
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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