INC Research Holdings, Inc. (INCR) Price Target Cut to $54.00
INC Research Holdings, Inc. (NASDAQ:INCR) had its target price lowered by equities research analysts at Credit Suisse Group from $68.00 to $54.00 in a report issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price objective would suggest a potential upside of 46.14% from the company’s current price.
Several other analysts have also commented on the stock. KeyCorp reissued a “market perform” rating and set a $46.00 price target (down from $68.00) on shares of INC Research Holdings in a research report on Monday. Jefferies Group LLC reissued a “buy” rating and set a $55.00 price target on shares of INC Research Holdings in a research report on Friday. Robert W. Baird lowered shares of INC Research Holdings to an “outperform” rating and decreased their price target for the company from $67.00 to $46.00 in a research report on Friday. TheStreet raised shares of INC Research Holdings from a “c” rating to a “b-” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research lowered shares of INC Research Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. INC Research Holdings currently has an average rating of “Buy” and an average target price of $56.33.
INC Research Holdings (NASDAQ INCR) traded down $2.15 during mid-day trading on Tuesday, hitting $36.95. 2,587,100 shares of the company’s stock traded hands, compared to its average volume of 881,572. The stock has a market capitalization of $4,079.89, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. INC Research Holdings has a 1-year low of $35.75 and a 1-year 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 results on Thursday, November 9th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.09). The firm had revenue of $592.21 million for the quarter, compared to analysts’ expectations of $604.95 million. INC Research Holdings had a negative net margin of 4.29% and a positive return on equity of 14.42%. The business’s quarterly revenue was up 128.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. sell-side analysts expect that INC Research Holdings will post 2.3 EPS for the current year.
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In related news, CAO Christopher L. Gaenzle sold 42,601 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $58.67, for a total value of $2,499,400.67. Following the transaction, the chief accounting officer now owns 69,557 shares in the company, valued at approximately $4,080,909.19. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alistair Macdonald sold 8,828 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $55.65, for a total transaction of $491,278.20. Following the completion of the transaction, the chief executive officer now owns 110,629 shares in the company, valued at approximately $6,156,503.85. The disclosure for this sale can be found here. Insiders sold a total of 198,321 shares of company stock valued at $11,550,792 over the last ninety days. 0.24% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in INC Research Holdings by 14.8% in the 2nd 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. Pacad Investment Ltd. acquired a new position in INC Research Holdings in the 2nd quarter worth approximately $123,000. Riverhead Capital Management LLC acquired a new position in INC Research Holdings in the 2nd quarter worth approximately $128,000. Victory Capital Management Inc. increased its holdings in INC Research Holdings by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock worth $139,000 after buying an additional 356 shares during the period. Finally, Shelton Capital Management acquired a new position in INC Research Holdings in the 2nd quarter worth approximately $247,000. Institutional investors own 77.75% of the company’s stock.
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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