INC Research’s (INCR) “Buy” Rating Reaffirmed at Credit Suisse Group
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 report on Wednesday, October 4th. Jefferies Group reissued a buy rating and set a $55.00 price target on shares of INC Research in a report on Friday, November 10th. TheStreet raised INC Research from a c rating to a b- rating in a report on Monday, November 6th. KeyCorp restated a market perform rating and issued a $46.00 price objective (down from $68.00) on shares of INC Research in a research report on Monday, November 13th. Finally, Robert W. Baird set a $46.00 price objective on INC Research and gave the company a buy rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $50.78.
Shares of INC Research (NASDAQ:INCR) opened at $40.50 on Thursday. INC Research has a fifty-two week low of $33.60 and a fifty-two week 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. The stock has a market capitalization of $4,225.97, a PE ratio of -69.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09.
INC Research (NASDAQ:INCR) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $604.95 million. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 128.2% on a year-over-year basis. equities research analysts expect that INC Research will post 2.15 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in INCR. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of INC Research by 14.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after acquiring an additional 228 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of INC Research in the second quarter valued at about $123,000. Riverhead Capital Management LLC purchased a new position in shares of INC Research in the second quarter valued at about $128,000. Victory Capital Management Inc. lifted its position in shares of INC Research by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock valued at $139,000 after acquiring an additional 356 shares in the last quarter. Finally, Personal Capital Advisors Corp purchased a new position in shares of INC Research in the third quarter valued at about $234,000. Institutional investors and hedge funds own 99.50% of the company’s stock.
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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