INC Research Holdings’ (INCR) Market Perform Rating Reaffirmed at KeyCorp

KeyCorp restated their market perform rating on shares of INC Research Holdings, Inc. (NASDAQ:INCR) in a research note issued to investors on Monday morning. They currently have a $46.00 price objective on the stock, down from their prior price objective of $68.00.

A number of other research firms have also recently commented on INCR. TheStreet upgraded INC Research Holdings from a c rating to a b- rating in a report on Monday, November 6th. BidaskClub cut INC Research Holdings from a strong-buy rating to a buy rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a hold rating and issued a $62.50 price objective on shares of INC Research Holdings in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $65.00 price objective on shares of INC Research Holdings in a report on Monday, August 7th. Finally, Credit Suisse Group AG assumed coverage on INC Research Holdings in a report on Wednesday, October 11th. They issued an outperform rating and a $68.00 price objective on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $56.33.

Shares of INC Research Holdings (NASDAQ:INCR) traded down $2.15 during trading on Monday, hitting $36.95. The stock had a trading volume of 2,587,100 shares, compared to its average volume of 881,572. The firm has a market cap of $4,079.89, a PE ratio of 17.94, a P/E/G ratio of 1.17 and a beta of 1.36. INC Research Holdings has a fifty-two week low of $35.75 and a fifty-two week high of $61.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.99.

INC Research Holdings (NASDAQ:INCR) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.09). INC Research Holdings had a negative net margin of 4.29% and a positive return on equity of 14.42%. The business had revenue of $592.21 million during the quarter, compared to analyst estimates of $604.95 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s revenue was up 128.2% on a year-over-year basis. research analysts forecast that INC Research Holdings will post 2.3 earnings per share for the current fiscal year.

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In other INC Research Holdings news, CEO Alistair Macdonald sold 8,828 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $55.65, for a total value of $491,278.20. Following the sale, the chief executive officer now owns 110,629 shares of the company’s stock, valued at $6,156,503.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory S. Rush sold 9,703 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 78,593 shares in the company, valued at approximately $4,281,746.64. The disclosure for this sale can be found here. In the last three months, insiders sold 198,321 shares of company stock worth $11,550,792. 0.24% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in INCR. Principal Financial Group Inc. raised its position in INC Research Holdings by 2.6% in the first quarter. Principal Financial Group Inc. now owns 44,821 shares of the company’s stock valued at $2,055,000 after purchasing an additional 1,154 shares during the period. FMR LLC raised its position in INC Research Holdings by 54.5% in the first quarter. FMR LLC now owns 400,045 shares of the company’s stock valued at $18,342,000 after purchasing an additional 141,155 shares during the period. Teachers Advisors LLC raised its position in INC Research Holdings by 1.9% in the first quarter. Teachers Advisors LLC now owns 340,119 shares of the company’s stock valued at $15,594,000 after purchasing an additional 6,211 shares during the period. Dimensional Fund Advisors LP raised its position in INC Research Holdings by 20.9% in the first quarter. Dimensional Fund Advisors LP now owns 776,389 shares of the company’s stock valued at $35,597,000 after purchasing an additional 134,313 shares during the period. Finally, BlackRock Inc. raised its position in INC Research Holdings by 40,517.6% in the first quarter. BlackRock Inc. now owns 3,544,294 shares of the company’s stock valued at $162,506,000 after purchasing an additional 3,535,568 shares during the period. 77.75% of the stock is currently owned by institutional investors.

INC Research Holdings 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.

Analyst Recommendations for INC Research Holdings (NASDAQ:INCR)

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