INC Research (INCR) Now Covered by Barclays
Investment analysts at Barclays assumed coverage on shares of INC Research (NASDAQ:INCR) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $40.00 price target on the stock. Barclays’ price objective indicates a potential downside of 2.56% from the stock’s previous close.
Several other analysts have also recently weighed in on INCR. TheStreet raised INC Research from a “c” rating to a “b-” rating in a report on Monday, November 6th. Robert W. Baird set a $46.00 target price on INC Research and gave the stock a “buy” rating in a research report on Thursday, November 16th. Jefferies Group reiterated a “buy” rating and issued a $55.00 price objective on shares of INC Research in a research report 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 for the company in a research report on Wednesday, September 27th. Finally, SunTrust Banks dropped their price target on INC Research to $50.00 and set a “buy” rating on the stock in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $51.40.
Shares of INC Research (NASDAQ:INCR) traded up $1.50 on Monday, reaching $41.05. 2,905,105 shares of the company were exchanged, compared to its average volume of 940,921. The company has a market cap of $4,126.85, a price-to-earnings ratio of 18.14, a PEG ratio of 1.25 and a beta of 1.08. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.99. INC Research has a 12-month low of $33.60 and a 12-month high of $61.10.
In other INC Research news, CEO Alistair Macdonald sold 2,348 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.60, for a total transaction of $128,200.80. Following the sale, the chief executive officer now directly owns 99,453 shares in the company, valued at approximately $5,430,133.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gregory S. Rush sold 9,703 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.48, for a total value of $528,619.44. Following the completion of the transaction, the chief financial officer now owns 78,593 shares in the company, valued at $4,281,746.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,733 shares of company stock valued at $912,270 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. Aperio Group LLC acquired a new position in shares of INC Research in the second quarter worth about $685,000. Great West Life Assurance Co. Can raised its holdings in INC Research by 469.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 32,325 shares of the company’s stock valued at $1,889,000 after acquiring an additional 26,650 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in INC Research in the 2nd quarter valued at about $5,964,000. Arizona State Retirement System acquired a new stake in INC Research in the 2nd quarter valued at about $1,336,000. Finally, Rhumbline Advisers grew its stake in shares of INC Research by 120.0% in the 2nd quarter. Rhumbline Advisers now owns 106,304 shares of the company’s stock valued at $6,219,000 after buying an additional 57,983 shares during the period. Institutional investors and hedge funds own 99.56% of the company’s stock.
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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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