INC Research Holdings Inc. (INCR) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of INC Research Holdings Inc. (NASDAQ:INCR) have earned an average recommendation of “Buy” from the eight brokerages that are covering the stock. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $55.86.
A number of brokerages recently commented on INCR. Zacks Investment Research raised INC Research Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price target for the company in a research report on Friday, August 19th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $82.00 price target on shares of INC Research Holdings in a research report on Thursday, September 8th. Finally, Jefferies Group decreased their price target on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 17th.
In related news, VP Gregory S. Rush sold 35,503 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $44.70, for a total value of $1,586,984.10. Following the sale, the vice president now owns 82,712 shares in the company, valued at $3,697,226.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Breckon sold 12,197 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $44.16, for a total value of $538,619.52. Following the completion of the sale, the director now owns 15,561 shares in the company, valued at approximately $687,173.76. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of INCR. Rational Advisors LLC acquired a new stake in shares of INC Research Holdings during the second quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of INC Research Holdings by 302.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,052 shares of the company’s stock worth $116,000 after buying an additional 2,294 shares during the period. Crow Point Partners LLC acquired a new stake in shares of INC Research Holdings during the third quarter worth about $116,000. Acrospire Investment Management LLC increased its stake in shares of INC Research Holdings by 10.5% in the second quarter. Acrospire Investment Management LLC now owns 3,150 shares of the company’s stock worth $120,000 after buying an additional 300 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of INC Research Holdings during the third quarter worth about $138,000. Institutional investors own 95.60% of the company’s stock.
Shares of INC Research Holdings (NASDAQ:INCR) remained flat at $50.70 during trading on Tuesday. 291,017 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.72 billion, a PE ratio of 26.91 and a beta of 1.78. INC Research Holdings has a 1-year low of $34.19 and a 1-year high of $57.11. The stock’s 50-day moving average price is $46.66 and its 200-day moving average price is $43.88.
INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings data on Monday, October 31st. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The firm earned $259.56 million during the quarter, compared to the consensus estimate of $259.89 million. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities analysts expect that INC Research Holdings will post $2.50 EPS for the current year.
About INC Research Holdings
INC Research Holdings, Inc is a global contract research organization (CRO). The Company is focused 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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