INC Research Holdings, Inc. (INCR) Coverage Initiated at Mizuho
Mizuho initiated coverage on shares of INC Research Holdings, Inc. (NASDAQ:INCR) in a note issued to investors on Thursday. The firm set a “neutral” rating and a $57.00 price target on the stock. Mizuho’s target price indicates a potential upside of 9.62% from the company’s current price.
Several other analysts have also recently commented on the stock. TheStreet cut shares of INC Research Holdings from a “b” rating to a “c” rating in a research report on Friday, July 28th. BidaskClub cut shares of INC Research Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. KeyCorp upgraded shares of INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research report on Monday, June 5th. Jefferies Group LLC reiterated a “buy” rating and set a $62.00 target price on shares of INC Research Holdings in a research report on Friday, June 16th. Finally, SunTrust Banks, Inc. upgraded shares of INC Research Holdings from a “hold” rating to a “buy” rating and upped their target price for the company from $48.00 to $67.00 in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $62.94.
INC Research Holdings (INCR) opened at 52.00 on Thursday. INC Research Holdings has a one year low of $40.65 and a one year high of $61.10. The company has a 50 day moving average price of $56.00 and a 200-day moving average price of $52.66. The firm has a market capitalization of $2.82 billion, a PE ratio of 31.86 and a beta of 1.41.
INC Research Holdings (NASDAQ:INCR) last issued its earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $256.76 million. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, equities analysts predict that INC Research Holdings will post $2.62 EPS for the current year.
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In related news, CFO Gregory S. Rush sold 88,739 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $58.99, for a total value of $5,234,713.61. Following the completion of the sale, the chief financial officer now owns 149,301 shares in the company, valued at approximately $8,807,265.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher L. Gaenzle sold 4,682 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,305,190.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,749 shares of company stock valued at $12,567,826. 0.24% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INCR. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of INC Research Holdings 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 buying an additional 228 shares in the last quarter. Invictus RG bought a new stake in shares of INC Research Holdings in the 1st quarter valued at $115,000. Pacad Investment Ltd. bought a new stake in shares of INC Research Holdings in the 2nd quarter valued at $123,000. Foresters Investment Management Company Inc. bought a new position in INC Research Holdings during the 1st quarter worth about $128,000. Finally, Riverhead Capital Management LLC bought a new position in INC Research Holdings during the 2nd quarter worth about $128,000. Institutional investors and hedge funds own 98.97% of the company’s stock.
INC Research Holdings Company Profile
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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