INC Research (INCR) Receives New Coverage from Analysts at Barclays

Barclays started coverage on shares of INC Research (NASDAQ:INCR) in a research note released on Monday morning. The firm issued an equal weight rating and a $40.00 price target on the stock.

Several other analysts have also weighed in on INCR. Mizuho began coverage on shares of INC Research in a research report on Thursday, September 21st. They set a neutral rating and a $57.00 target price on the stock. Zacks Investment Research upgraded shares of INC Research from a hold rating to a buy rating and set a $58.00 target price on the stock in a research report on Wednesday, September 27th. Robert W. Baird reiterated a buy rating and set a $67.00 target price on shares of INC Research in a research report on Monday, October 9th. Jefferies Group upgraded shares of INC Research from a hold rating to a buy rating and lifted their target price for the company from $62.50 to $69.00 in a research report on Monday, October 9th. Finally, Credit Suisse Group began coverage on shares of INC Research in a research report on Wednesday, October 11th. They set an outperform rating and a $68.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. INC Research currently has an average rating of Hold and an average target price of $51.40.

INC Research (NASDAQ:INCR) traded up $1.50 during midday trading on Monday, reaching $41.05. 2,905,100 shares of the company’s stock traded hands, compared to its average volume of 940,921. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4,126.85, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. INC Research has a 52 week low of $33.60 and a 52 week high of $61.10.

INC Research (NASDAQ:INCR) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.09). The company had revenue of $592.21 million during the quarter, compared to analyst estimates of $604.95 million. INC Research had a positive return on equity of 14.42% and a negative net margin of 4.29%. The business’s revenue for the quarter was up 128.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. sell-side analysts forecast 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 on Monday, September 18th. The shares were sold at an average price of $54.48, for a total transaction of $528,619.44. Following the sale, the chief financial officer now directly owns 78,593 shares of the company’s stock, valued at $4,281,746.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher L. Gaenzle sold 4,682 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.56, for a total transaction of $255,449.92. Following the sale, the chief accounting officer now directly owns 60,579 shares in the company, valued at $3,305,190.24. The disclosure for this sale can be found here. Insiders have sold 16,733 shares of company stock valued at $912,270 in the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in INC Research by 3,536.9% during the third quarter. Public Employees Retirement System of Ohio now owns 9,747 shares of the company’s stock worth $510,000 after acquiring an additional 9,479 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of INC Research by 17.3% in the third quarter. Sterling Capital Management LLC now owns 13,212 shares of the company’s stock valued at $691,000 after purchasing an additional 1,949 shares during the period. California Public Employees Retirement System raised its position in shares of INC Research by 1.2% in the third quarter. California Public Employees Retirement System now owns 136,000 shares of the company’s stock valued at $7,113,000 after purchasing an additional 1,600 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of INC Research by 74.3% in the third quarter. Cubist Systematic Strategies LLC now owns 25,035 shares of the company’s stock valued at $1,309,000 after purchasing an additional 10,673 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of INC Research by 1,337.6% in the third quarter. Point72 Asset Management L.P. now owns 598,039 shares of the company’s stock valued at $31,277,000 after purchasing an additional 556,439 shares during the period. 99.56% of the stock is currently 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.

Analyst Recommendations for INC Research (NASDAQ:INCR)

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