Equities researchers at Mizuho began coverage on shares of INC Research Holdings, Inc. (NASDAQ:INCR) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating on the stock.
A number of other analysts have also weighed in on INCR. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $65.00 target price on shares of INC Research Holdings in a research report on Monday, August 7th. William Blair lowered shares of INC Research Holdings from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 20th. SunTrust Banks, Inc. upgraded shares of INC Research Holdings from a “hold” rating to a “buy” rating and raised their target price for the company from $48.00 to $67.00 in a research report on Wednesday, May 31st. Jefferies Group LLC lowered shares of INC Research Holdings from a “buy” rating to a “hold” rating and raised their target price for the company from $62.00 to $64.00 in a research report on Thursday, June 29th. Finally, KeyCorp upgraded shares of INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.79.
INC Research Holdings (NASDAQ INCR) opened at 52.30 on Thursday. The firm’s 50-day moving average price is $56.00 and its 200 day moving average price is $52.66. The firm has a market cap of $2.83 billion, a P/E ratio of 32.05 and a beta of 1.41. INC Research Holdings has a 12-month low of $40.65 and a 12-month high of $61.10.
INC Research Holdings (NASDAQ:INCR) last issued its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $256.76 million. During the same quarter last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that INC Research Holdings will post $2.62 earnings per share for the current fiscal year.
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In related news, CFO Gregory S. Rush sold 88,739 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $58.99, for a total value of $5,234,713.61. Following the transaction, the chief financial officer now owns 149,301 shares in the company, valued at $8,807,265.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Christopher L. Gaenzle sold 6,873 shares of INC Research Holdings stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 47,450 shares of the company’s stock, valued at $2,767,284. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,749 shares of company stock worth $12,567,826. 0.24% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of INCR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in INC Research Holdings by 14.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after purchasing an additional 228 shares in the last quarter. Invictus RG bought a new stake in INC Research Holdings in the first quarter valued at $115,000. Pacad Investment Ltd. bought a new stake in INC Research Holdings in the second quarter valued at $123,000. Foresters Investment Management Company Inc. bought a new stake in INC Research Holdings in the first quarter valued at $128,000. Finally, Riverhead Capital Management LLC bought a new stake in INC Research Holdings in the second quarter valued at $128,000. 98.97% of the stock is owned by hedge funds and other institutional investors.
About INC Research Holdings
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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