INC Research Holdings, Inc. (NASDAQ:INCR) was downgraded by TheStreet from a “b” rating to a “c” rating in a note issued to investors on Friday, July 28th.
A number of other brokerages have also recently weighed in on INCR. Robert W. Baird raised shares of INC Research Holdings from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $46.00 to $66.00 in a research report on Thursday, May 11th. William Blair cut shares of INC Research Holdings from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 20th. KeyCorp raised 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 research report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $62.00 price target on shares of INC Research Holdings in a research report on Friday, June 16th. Finally, Wells Fargo & Company cut shares of INC Research Holdings from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $63.79.
Shares of INC Research Holdings (INCR) opened at 56.00 on Friday. The stock has a market capitalization of $3.03 billion, a P/E ratio of 34.31 and a beta of 1.42. INC Research Holdings has a 52 week low of $40.65 and a 52 week high of $61.10. The company’s 50-day moving average is $56.38 and its 200 day moving average is $52.08.
INC Research Holdings (NASDAQ:INCR) last released its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $256.76 million. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. On average, equities analysts forecast that INC Research Holdings will post $2.61 EPS for the current fiscal year.
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In other news, CAO Christopher L. Gaenzle sold 6,873 shares of the business’s 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 transaction, the chief accounting officer now directly owns 47,450 shares of the company’s stock, valued at $2,767,284. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alistair Macdonald sold 10,555 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $58.38, for a total transaction of $616,200.90. Following the transaction, the chief executive officer now directly owns 83,935 shares in the company, valued at $4,900,125.30. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of INC Research Holdings by 14.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock worth $103,000 after buying an additional 228 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of INC Research Holdings during the fourth quarter worth about $109,000. Invictus RG bought a new stake in shares of INC Research Holdings during the first quarter worth about $115,000. Pacad Investment Ltd. bought a new stake in shares of INC Research Holdings during the second quarter worth about $123,000. Finally, Foresters Investment Management Company Inc. bought a new stake in shares of INC Research Holdings during the first quarter worth about $128,000. Institutional investors and hedge funds own 99.84% of the company’s stock.
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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