Jefferies Group Weighs in on INC Research Holdings, Inc.’s Q1 2018 Earnings (INCR)
INC Research Holdings, Inc. (NASDAQ:INCR) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings estimates for shares of INC Research in a report released on Monday. Jefferies Group analyst D. Windley now anticipates that the company will post earnings per share of $0.54 for the quarter, up from their prior estimate of $0.53. Jefferies Group currently has a “Buy” rating and a $55.00 target price on the stock. Jefferies Group also issued estimates for INC Research’s Q2 2018 earnings at $0.55 EPS and FY2019 earnings at $2.66 EPS.
Several other analysts also recently weighed in on INCR. BidaskClub raised INC Research from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Barclays assumed coverage on INC Research in a report on Monday. They issued an “equal weight” rating and a $40.00 target price for the company. Zacks Investment Research downgraded INC Research from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. SunTrust Banks reduced their target price on INC Research to $50.00 and set a “buy” rating for the company in a report on Friday, December 1st. Finally, Mizuho set a $41.00 target price on INC Research and gave the company a “neutral” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. INC Research currently has an average rating of “Hold” and a consensus price target of $51.40.
INC Research (NASDAQ:INCR) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.09). INC Research had a positive return on equity of 14.42% and a negative net margin of 4.29%. The business had revenue of $592.21 million for the quarter, compared to analysts’ expectations of $604.95 million. During the same period last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 128.2% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of INCR. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in INC Research by 14.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after acquiring an additional 228 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in INC Research during the 2nd quarter valued at approximately $123,000. Riverhead Capital Management LLC purchased a new stake in INC Research during the 2nd quarter valued at approximately $128,000. Victory Capital Management Inc. increased its position in INC Research by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock worth $139,000 after purchasing an additional 356 shares during the period. Finally, Personal Capital Advisors Corp acquired a new position in INC Research during the 3rd quarter worth approximately $234,000. 99.56% of the stock is owned by hedge funds and other institutional investors.
In other INC Research news, CFO Gregory S. Rush sold 9,703 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $54.48, for a total transaction of $528,619.44. Following the completion of the sale, the chief financial officer now directly owns 78,593 shares of the company’s stock, valued at approximately $4,281,746.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher L. Gaenzle sold 4,682 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $54.56, for a total value of $255,449.92. Following the sale, the chief accounting officer now directly owns 60,579 shares of the company’s stock, valued at $3,305,190.24. 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 owned by company insiders.
INC Research 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.
Receive News & Ratings for INC Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for INC Research and related companies with MarketBeat.com's FREE daily email newsletter.