INC Research (INCR) PT Set at $41.00 by Mizuho

Mizuho set a $41.00 price objective on INC Research (NASDAQ:INCR) in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also commented on INCR. KeyCorp reaffirmed a market perform rating and issued a $46.00 price target (down previously from $68.00) on shares of INC Research in a research note on Monday, November 13th. Robert W. Baird lowered INC Research to an outperform rating and decreased their price target for the company from $67.00 to $46.00 in a research note on Friday, November 10th. Zacks Investment Research downgraded INC Research from a hold rating to a strong sell rating in a report on Thursday, November 16th. 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. Finally, TheStreet upgraded INC Research from a c rating to a b- rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $52.67.

INC Research (NASDAQ INCR) opened at $38.00 on Friday. INC Research has a 12 month low of $33.60 and a 12 month high of $61.10. The company has a market capitalization of $3,949.46, a price-to-earnings ratio of 17.36, a PEG ratio of 1.19 and a beta of 1.08. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.99.

INC Research (NASDAQ:INCR) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.54 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 business had revenue of $592.21 million during the quarter, compared to analyst estimates of $604.95 million. During the same period last year, the company earned $0.64 EPS. The business’s revenue for the quarter was up 128.2% on a year-over-year basis. sell-side analysts expect that INC Research will post 2.15 earnings per share for the current year.

In other INC Research news, CFO Gregory S. Rush sold 9,703 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $54.48, for a total transaction of $528,619.44. Following the sale, the chief financial officer now owns 78,593 shares in the company, valued at approximately $4,281,746.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alistair Macdonald sold 2,348 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $5,430,133.80. The disclosure for this sale can be found here. Insiders sold a total of 16,733 shares of company stock worth $912,270 in the last quarter. Company insiders own 0.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of INCR. Lee Thomas H Partners LP purchased a new stake in INC Research during the 3rd quarter worth about $1,316,644,000. BlackRock Inc. increased its holdings in INC Research by 82.3% during 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 during the period. Janus Henderson Group PLC purchased a new stake in INC Research during the 2nd quarter worth about $99,424,000. State Street Corp increased its holdings in INC Research by 112.8% during 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 during the period. Finally, Point72 Asset Management L.P. increased its holdings in INC Research by 1,337.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 598,039 shares of the company’s stock worth $31,277,000 after purchasing an additional 556,439 shares during the period. 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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