INC Research Holdings, Inc. (NASDAQ:INCR)’s share price was down 6.1% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $40.05 and last traded at $38.65. Approximately 835,414 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 735,879 shares. The stock had previously closed at $41.15.
The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.09). INC Research Holdings had a negative net margin of 4.29% and a positive return on equity of 14.42%. The business had revenue of $592.21 million during the quarter, compared to analyst estimates of $604.95 million. During the same period in the previous year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 128.2% compared to the same quarter last year.
Several analysts recently issued reports on INCR shares. BidaskClub downgraded shares of INC Research Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $62.50 price objective on shares of INC Research Holdings in a report on Sunday, July 30th. TheStreet downgraded shares of INC Research Holdings from a “b” rating to a “c” rating in a report on Friday, July 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $65.00 price objective on shares of INC Research Holdings in a report on Monday, August 7th. Finally, Mizuho initiated coverage on shares of INC Research Holdings in a report on Thursday, September 21st. They set a “neutral” rating and a $57.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $60.33.
In other news, CFO Gregory S. Rush sold 9,703 shares of INC Research Holdings stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.48, for a total transaction of $528,619.44. Following the sale, the chief financial officer now directly owns 78,593 shares in the company, valued at approximately $4,281,746.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher L. Gaenzle sold 4,682 shares of INC Research Holdings stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.56, for a total value of $255,449.92. Following the sale, the chief accounting officer now owns 60,579 shares in the company, valued at $3,305,190.24. The disclosure for this sale can be found here. Insiders have sold a total of 198,321 shares of company stock worth $11,550,792 over the last quarter. Company insiders own 0.24% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio raised its stake in INC Research Holdings by 0.8% in the 2nd quarter. Strs Ohio now owns 25,200 shares of the company’s stock valued at $1,474,000 after acquiring an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 acquiring an additional 228 shares during the period. Victory Capital Management Inc. raised its stake in INC Research Holdings by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock valued at $139,000 after acquiring an additional 356 shares during the period. Oregon Public Employees Retirement Fund raised its stake in INC Research Holdings by 4.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 20,946 shares of the company’s stock valued at $1,095,000 after acquiring an additional 986 shares during the period. Finally, Principal Financial Group Inc. raised its stake in INC Research Holdings by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 44,821 shares of the company’s stock valued at $2,055,000 after acquiring an additional 1,154 shares during the period. Institutional investors own 77.68% of the company’s stock.
The firm has a market capitalization of $4,293.80, a P/E ratio of 18.88, a PEG ratio of 1.23 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.15 and a current ratio of 1.27.
ILLEGAL ACTIVITY WARNING: “INC Research Holdings, Inc. (INCR) Stock Price Down 6.1% on Disappointing Earnings” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/12/inc-research-holdings-inc-incr-stock-price-down-6-1-on-disappointing-earnings.html.
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.
Receive News & Ratings for INC Research Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for INC Research Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.