INC Research Holdings Inc. (INCR) Shares Up 2.2%
Shares of INC Research Holdings Inc. (NASDAQ:INCR) shot up 2.2% during trading on Monday . The stock traded as high as $45.80 and last traded at $45.46, with a volume of 472,510 shares traded. The stock had previously closed at $44.50.
Several brokerages recently commented on INCR. Zacks Investment Research upgraded INC Research Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price target for the company in a research report on Friday. Jefferies Group dropped their price target on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 17th. Goldman Sachs Group Inc. boosted their price target on INC Research Holdings from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Credit Suisse Group AG began coverage on INC Research Holdings in a research report on Monday, June 20th. They set an “outperform” rating and a $51.00 price target for the company. Finally, KeyCorp reiterated a “hold” rating on shares of INC Research Holdings in a research report on Sunday, May 22nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $52.50.
The stock’s 50 day moving average is $42.83 and its 200 day moving average is $42.45. The company has a market capitalization of $2.51 billion and a P/E ratio of 22.65.
INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. During the same quarter last year, the business posted $0.47 earnings per share. The company earned $258.80 million during the quarter, compared to analysts’ expectations of $252.39 million. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that INC Research Holdings Inc. will post $2.47 earnings per share for the current year.
In other news, CFO Gregory S. Rush sold 1,358 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $37.97, for a total value of $51,563.26. Following the completion of the sale, the chief financial officer now directly owns 19,457 shares of the company’s stock, valued at approximately $738,782.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory S. Rush sold 4,066 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $45.23, for a total value of $183,905.18. Following the completion of the sale, the vice president now directly owns 22,165 shares of the company’s stock, valued at $1,002,522.95. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in INC Research Holdings stock. Airain ltd raised its stake in shares of INC Research Holdings Inc. (NASDAQ:INCR) by 97.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,650 shares of the company’s stock after buying an additional 31,928 shares during the period. Airain ltd owned 0.11% of INC Research Holdings worth $3,136,000 as of its most recent filing with the SEC.
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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