INC Research Holdings Inc. (INCR) Trading 2.2% Higher
INC Research Holdings Inc. (NASDAQ:INCR)’s share price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $45.80 and last traded at $45.46, with a volume of 472,510 shares. The stock had previously closed at $44.50.
Several equities analysts have recently issued reports on the company. Goldman Sachs Group Inc. boosted their price objective 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. Robert W. Baird downgraded INC Research Holdings from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $51.00 in a research report on Tuesday, May 3rd. Zacks Investment Research upgraded INC Research Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research report on Friday, August 19th. Jefferies Group reduced their price objective 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. Finally, Credit Suisse Group AG assumed coverage on INC Research Holdings in a research report on Monday, June 20th. They set an “outperform” rating and a $51.00 price objective for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. INC Research Holdings has an average rating of “Buy” and an average price target of $52.50.
The company has a market capitalization of $2.56 billion and a P/E ratio of 23.09. The company’s 50 day moving average price is $43.17 and its 200 day moving average price is $42.61.
INC Research Holdings (NASDAQ:INCR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. During the same period last year, the company earned $0.47 EPS. The business earned $258.80 million during the quarter, compared to analyst estimates of $252.39 million. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts forecast that INC Research Holdings Inc. will post $2.47 earnings per share for the current fiscal year.
In related news, Director Robert W. Breckon sold 11,691 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $43.53, for a total value of $508,909.23. Following the completion of the transaction, the director now owns 19,710 shares of the company’s stock, valued at $857,976.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alistair Macdonald sold 8,828 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $43.80, for a total transaction of $386,666.40. Following the completion of the transaction, the chief operating officer now directly owns 63,057 shares of the company’s stock, valued at approximately $2,761,896.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in INC Research Holdings stock. Airain ltd raised its stake in INC Research Holdings Inc. (NASDAQ:INCR) by 97.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,650 shares of the company’s stock after buying an additional 31,928 shares during the period. Airain ltd owned approximately 0.11% of INC Research Holdings worth $3,136,000 as of its most recent SEC filing.
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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