INC Research (INCR) Coverage Initiated at Barclays

Barclays began coverage on shares of INC Research (NASDAQ:INCR) in a report released on Monday. The firm set an “equal weight” rating and a $40.00 price target on the stock. Barclays’ target price would suggest a potential downside of 4.42% from the company’s current price.

INCR has been the subject of several other reports. Zacks Investment Research downgraded shares of INC Research from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Credit Suisse Group started coverage on shares of INC Research in a research note on Wednesday, October 11th. They issued an “outperform” rating and a $68.00 target price for the company. Jefferies Group restated a “buy” rating and issued a $55.00 target price on shares of INC Research in a research note on Friday, November 10th. TheStreet upgraded shares of INC Research from a “c” rating to a “b-” rating in a research note on Monday, November 6th. Finally, KeyCorp restated a “market perform” rating and issued a $46.00 target price (down from $68.00) on shares of INC Research in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $51.40.

Shares of INC Research (NASDAQ INCR) opened at $41.85 on Monday. The firm has a market cap of $4,126.85, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. INC Research has a one year low of $33.60 and a one year high of $61.10. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.99.

INC Research (NASDAQ:INCR) last announced its earnings results on Thursday, November 9th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.09). The firm had revenue of $592.21 million during the quarter, compared to analyst estimates of $604.95 million. INC Research had a negative net margin of 4.29% and a positive return on equity of 14.42%. INC Research’s revenue was up 128.2% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. equities research analysts anticipate that INC Research will post 2.15 EPS for the current year.

In other news, CFO Gregory S. Rush sold 9,703 shares of INC Research 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 completion of the sale, the chief financial officer now directly owns 78,593 shares in the company, valued at $4,281,746.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Alistair Macdonald sold 2,348 shares of INC Research stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.60, for a total transaction of $128,200.80. Following the sale, the chief executive officer now owns 99,453 shares of the company’s stock, valued at $5,430,133.80. The disclosure for this sale can be found here. Insiders have sold 16,733 shares of company stock valued at $912,270 over the last quarter. Insiders own 0.24% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of INC Research by 14.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock worth $103,000 after buying an additional 228 shares during the period. Victory Capital Management Inc. raised its holdings in shares of INC Research by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock worth $139,000 after purchasing an additional 356 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of INC Research by 4.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 20,946 shares of the company’s stock worth $1,095,000 after purchasing an additional 986 shares during the last quarter. Comerica Bank raised its holdings in shares of INC Research by 3.1% during the third quarter. Comerica Bank now owns 43,790 shares of the company’s stock worth $2,483,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Trillium Asset Management LLC raised its holdings in shares of INC Research by 6.5% during the second quarter. Trillium Asset Management LLC now owns 21,996 shares of the company’s stock worth $1,287,000 after purchasing an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was first reported by Week Herald and is the property of of Week Herald. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://weekherald.com/2017/12/13/inc-research-incr-coverage-initiated-at-barclays.html.

INC Research 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.

Analyst Recommendations for INC Research (NASDAQ:INCR)

Receive News & Ratings for INC Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for INC Research and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply