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.
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.
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