INC Research (INCR) Coverage Initiated at Barclays

Barclays initiated coverage on shares of INC Research (NASDAQ:INCR) in a research report report published on Monday, MarketBeat reports. The firm issued an equal weight rating and a $40.00 price target on the stock.

Several other research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of INC Research from a sell rating to a hold rating in a report on Thursday, December 7th. SunTrust Banks dropped their target price on shares of INC Research to $50.00 and set a buy rating on the stock in a report on Friday, December 1st. Mizuho set a $41.00 target price on shares of INC Research and gave the stock a neutral rating in a report on Friday, December 1st. Zacks Investment Research cut shares of INC Research from a hold rating to a strong sell rating in a report on Thursday, November 16th. Finally, Robert W. Baird set a $46.00 price target on shares of INC Research and gave the company a buy rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. INC Research has a consensus rating of Hold and an average target price of $51.40.

INC Research (NASDAQ INCR) opened at $41.05 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.99. INC Research has a 1-year low of $33.60 and a 1-year high of $61.10. The stock has a market cap of $4,366.84, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.32 and a beta of 1.08.

INC Research (NASDAQ:INCR) last issued its 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 positive return on equity of 14.42% and a negative net margin of 4.29%. The business had revenue of $592.21 million for the quarter, compared to the consensus estimate of $604.95 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s revenue was up 128.2% on a year-over-year basis. equities analysts anticipate that INC Research will post 2.15 earnings per share for the current year.

In other news, CFO Gregory S. Rush sold 9,703 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $54.48, for a total value of $528,619.44. Following the sale, the chief financial officer now directly owns 78,593 shares in the company, valued at approximately $4,281,746.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher L. Gaenzle sold 4,682 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $54.56, for a total transaction of $255,449.92. Following the completion of the sale, the chief accounting officer now owns 60,579 shares in the company, valued at $3,305,190.24. The disclosure for this sale can be found here. Insiders sold a total of 16,733 shares of company stock worth $912,270 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of INC Research by 14.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after purchasing an additional 228 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of INC Research by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock valued at $139,000 after purchasing an additional 356 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of INC Research by 4.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 20,946 shares of the company’s stock valued at $1,095,000 after purchasing an additional 986 shares during the last quarter. Comerica Bank raised its position in shares of INC Research by 3.1% in the 3rd quarter. Comerica Bank now owns 43,790 shares of the company’s stock valued at $2,483,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Trillium Asset Management LLC raised its position in shares of INC Research by 6.5% in the 2nd quarter. Trillium Asset Management LLC now owns 21,996 shares of the company’s stock valued at $1,287,000 after purchasing an additional 1,335 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

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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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