INC Research Holdings, Inc. (NASDAQ:INCR) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 3,688,335 shares, a growth of 36.8% from the November 15th total of 2,695,891 shares. Currently, 6.6% of the company’s shares are short sold. Based on an average daily volume of 1,389,138 shares, the days-to-cover ratio is presently 2.7 days.

INCR has been the subject of a number of recent analyst reports. KeyCorp reissued a “market perform” rating and set a $46.00 target price (down previously from $68.00) on shares of INC Research in a research report on Monday, November 13th. Robert W. Baird cut INC Research to an “outperform” rating and cut their price target for the stock from $67.00 to $46.00 in a report on Friday, November 10th. Mizuho set a $41.00 price target on INC Research and gave the stock a “neutral” rating in a report on Friday, December 1st. Zacks Investment Research cut INC Research from a “hold” rating to a “strong sell” rating in a report on Thursday, November 16th. Finally, Jefferies Group restated a “buy” rating and set a $55.00 price target on shares of INC Research in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.40.

INC Research (NASDAQ:INCR) opened at $41.05 on Monday. The stock has a market capitalization of $4,283.36, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. INC Research has a twelve month low of $33.60 and a twelve month 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 (NASDAQ:INCR) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.09). The business had revenue of $592.21 million for the quarter, compared to the consensus estimate of $604.95 million. INC Research had a positive return on equity of 14.42% and a negative net margin of 4.29%. INC Research’s quarterly revenue was up 128.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. sell-side analysts anticipate that INC Research will post 2.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lee Thomas H Partners LP bought a new position in shares of INC Research in the 3rd quarter worth $1,316,644,000. BlackRock Inc. lifted its holdings in shares of INC Research by 82.3% in the 2nd quarter. BlackRock Inc. now owns 6,461,899 shares of the company’s stock worth $378,020,000 after purchasing an additional 2,917,605 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of INC Research by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,186,393 shares of the company’s stock worth $361,904,000 after purchasing an additional 142,349 shares in the last quarter. State Street Corp lifted its holdings in shares of INC Research by 112.8% in the 2nd quarter. State Street Corp now owns 1,769,353 shares of the company’s stock worth $103,508,000 after purchasing an additional 937,864 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of INC Research in the 2nd quarter worth $99,424,000. Institutional investors own 99.56% of the company’s stock.

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About INC Research

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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