Icon (NASDAQ:ICLR) Upgraded at Zacks Research

Icon (NASDAQ:ICLR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on ICLR. Robert W. Baird set a $220.00 price objective on shares of Icon in a research note on Friday, October 24th. Jefferies Financial Group downgraded shares of Icon from a “buy” rating to a “hold” rating and lowered their target price for the company from $220.00 to $175.00 in a research note on Tuesday, September 9th. Citigroup reaffirmed a “neutral” rating and set a $200.00 price target (down previously from $225.00) on shares of Icon in a research note on Thursday, August 21st. Rothschild & Co Redburn upgraded shares of Icon from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $184.00 to $236.00 in a report on Wednesday, September 3rd. Finally, Rothschild Redb upgraded Icon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Icon presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Icon Stock Up 5.2%

ICLR stock opened at $183.65 on Tuesday. The stock’s fifty day simple moving average is $174.32 and its two-hundred day simple moving average is $162.23. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. The stock has a market cap of $14.83 billion, a P/E ratio of 24.85, a P/E/G ratio of 3.04 and a beta of 1.22. Icon has a 1-year low of $125.10 and a 1-year high of $228.29.

Institutional Investors Weigh In On Icon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its position in Icon by 200.0% in the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company’s stock worth $25,000 after buying an additional 94 shares in the last quarter. SVB Wealth LLC bought a new position in Icon during the first quarter valued at approximately $28,000. Ameriflex Group Inc. bought a new position in shares of Icon during the 3rd quarter valued at approximately $33,000. Ameritas Advisory Services LLC purchased a new position in shares of Icon in the 2nd quarter worth $48,000. Finally, LRI Investments LLC purchased a new stake in Icon during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

About Icon

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.