Jefferies Group LLC upgraded shares of INC Research Holdings, Inc. (NASDAQ:INCR) from a hold rating to a buy rating in a report published on Monday morning, Marketbeat reports. The firm currently has $69.00 price objective on the stock, up from their prior price objective of $62.50. Jefferies Group also issued estimates for INC Research Holdings’ Q3 2017 earnings at $0.57 EPS, FY2017 earnings at $2.29 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $2.88 EPS and FY2019 earnings at $3.52 EPS.
INCR has been the topic of several other research reports. William Blair cut shares of INC Research Holdings from an outperform rating to a market perform rating in a research note on Tuesday, June 20th. BidaskClub cut shares of INC Research Holdings from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $65.00 price objective on shares of INC Research Holdings in a report on Monday, August 7th. TheStreet lowered shares of INC Research Holdings from a b rating to a c rating in a report on Friday, July 28th. Finally, Robert W. Baird restated a buy rating and issued a $67.00 price objective on shares of INC Research Holdings in a report on Monday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. INC Research Holdings presently has a consensus rating of Buy and an average price target of $64.22.
INC Research Holdings (NASDAQ:INCR) last posted its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The firm had revenue of $258.10 million during the quarter, compared to analyst estimates of $256.76 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis.
In related news, CFO Gregory S. Rush sold 88,739 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $58.99, for a total transaction of $5,234,713.61. Following the sale, the chief financial officer now owns 149,301 shares of the company’s stock, valued at $8,807,265.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher L. Gaenzle sold 4,682 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $54.56, for a total value of $255,449.92. Following the sale, the chief accounting officer now directly owns 60,579 shares in the company, valued at approximately $3,305,190.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,321 shares of company stock worth $11,550,792. Corporate insiders own 0.24% of the company’s stock.
A number of large investors have recently modified their holdings of INCR. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 purchasing an additional 228 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of INC Research Holdings during the 2nd quarter valued at about $123,000. Riverhead Capital Management LLC purchased a new stake in shares of INC Research Holdings during the 2nd quarter valued at about $128,000. Victory Capital Management Inc. raised its holdings in shares of INC Research Holdings by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock valued at $139,000 after buying an additional 356 shares during the period. Finally, Invictus RG purchased a new stake in shares of INC Research Holdings during the 1st quarter valued at about $115,000. 54.56% of the stock is currently owned by hedge funds and other institutional investors.
INC Research Holdings 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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