INC Research (INCR) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of INC Research (NASDAQ:INCR) from a sell rating to a hold rating in a research report released on Thursday morning.
INCR has been the subject of several other research reports. Zacks Investment Research lowered INC Research from a buy rating to a hold rating in a research note on Wednesday, October 4th. Credit Suisse Group initiated coverage on INC Research in a report on Wednesday, October 11th. They issued an outperform rating and a $68.00 price objective on the stock. Jefferies Group reiterated a buy rating and issued a $55.00 price objective on shares of INC Research in a report on Friday, November 10th. TheStreet upgraded INC Research from a c rating to a b- rating in a report on Monday, November 6th. Finally, KeyCorp reiterated a market perform rating and issued a $46.00 price objective (down from $68.00) on shares of INC Research in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. INC Research currently has a consensus rating of Hold and an average target price of $52.67.
INC Research (NASDAQ:INCR) opened at $39.55 on Thursday. The firm has a market capitalization of $4,126.84, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. INC Research has a 52 week low of $33.60 and a 52 week high of $61.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.27 and a current ratio of 1.27.
INC Research (NASDAQ:INCR) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.09). INC Research had a negative net margin of 4.29% and a positive return on equity of 14.42%. The company had revenue of $592.21 million for the quarter, compared to analysts’ expectations of $604.95 million. During the same quarter in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was up 128.2% on a year-over-year basis. equities research analysts expect that INC Research will post 2.15 earnings per share for the current fiscal year.
In other INC Research news, CEO Alistair Macdonald sold 2,348 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $54.60, for a total value of $128,200.80. Following the sale, the chief executive officer now owns 99,453 shares of the company’s stock, valued at $5,430,133.80. 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 ninety days, insiders have sold 16,733 shares of company stock worth $912,270. Corporate insiders own 0.24% of the company’s stock.
Several institutional investors have recently bought and sold shares of INCR. Aperio Group LLC purchased a new stake in shares of INC Research during the second quarter worth $685,000. Strs Ohio grew its stake in shares of INC Research by 0.8% during the second quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $1,474,000 after purchasing an additional 200 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of INC Research by 469.6% during the second quarter. Great West Life Assurance Co. Can now owns 32,325 shares of the company’s stock worth $1,889,000 after purchasing an additional 26,650 shares in the last quarter. Texas Permanent School Fund acquired a new position in shares of INC Research during the second quarter worth $2,311,000. Finally, Retirement Systems of Alabama acquired a new position in shares of INC Research during the second quarter worth $5,964,000. 99.56% of the stock is currently owned by institutional investors and hedge funds.
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INC Research 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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