INC Research Holdings Inc. (INCR) Stock Price Down 1.3%
INC Research Holdings Inc. (NASDAQ:INCR) dropped 1.3% during trading on Thursday . The company traded as low as $44.12 and last traded at $44.79, with a volume of 731,645 shares trading hands. The stock had previously closed at $45.36.
INCR has been the subject of a number of research reports. Robert W. Baird cut shares of INC Research Holdings from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $51.00 in a report on Tuesday, May 3rd. KeyCorp reaffirmed a “hold” rating on shares of INC Research Holdings in a report on Sunday, May 22nd. Jefferies Group reiterated a “buy” rating on shares of INC Research Holdings in a research note on Friday, June 10th. Credit Suisse Group AG began coverage on shares of INC Research Holdings in a research note on Monday, June 20th. They set an “outperform” rating and a $51.00 price target on the stock. Finally, Zacks Investment Research lowered shares of INC Research Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.50.
The company has a market cap of $2.40 billion and a P/E ratio of 21.60. The firm has a 50-day moving average of $43.67 and a 200 day moving average of $42.70.
INC Research Holdings (NASDAQ:INCR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $258.80 million for the quarter, compared to analyst estimates of $252.39 million. During the same period in the prior year, the business earned $0.47 earnings per share. INC Research Holdings’s revenue was up 13.8% on a year-over-year basis. Equities research analysts anticipate that INC Research Holdings Inc. will post $2.47 EPS for the current fiscal year.
In other news, COO Alistair Macdonald sold 8,828 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $43.80, for a total value of $386,666.40. Following the transaction, the chief operating officer now directly owns 63,057 shares in the company, valued at approximately $2,761,896.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teachers Pension Plan Ontario sold 2,445,591 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $42.06, for a total transaction of $102,861,557.46. The disclosure for this sale can be found here.
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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