INC Research (NASDAQ:INCR) Stock Rating Lowered by Zacks Investment Research

INC Research (NASDAQ:INCR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, November 16th.

According to Zacks, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina. “

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird set a $46.00 target price on shares of INC Research and gave the stock a “buy” rating in a report on Thursday, November 16th. Credit Suisse Group cut their target price on shares of INC Research from $68.00 to $54.00 and set an “outperform” rating on the stock in a report on Tuesday, November 14th. KeyCorp reissued a “market perform” rating and issued a $46.00 target price (down previously from $68.00) on shares of INC Research in a report on Monday, November 13th. Jefferies Group reissued a “buy” rating and issued a $55.00 target price on shares of INC Research in a report on Friday, November 10th. Finally, TheStreet raised shares of INC Research from a “c” rating to a “b-” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.67.

Shares of INC Research (INCR) traded up $0.15 during mid-day trading on Thursday, hitting $38.00. 1,431,115 shares of the stock traded hands, compared to its average volume of 924,398. 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 has a twelve month low of $33.60 and a twelve month high of $61.10. The company has a market capitalization of $3,949.46, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08.

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

In related news, CAO Christopher L. Gaenzle sold 4,682 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 60,579 shares in the company, valued at $3,305,190.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory S. Rush sold 9,703 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 78,593 shares in the company, valued at approximately $4,281,746.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,733 shares of company stock worth $912,270. Corporate insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in shares of INC Research by 3,536.9% during the third quarter. Public Employees Retirement System of Ohio now owns 9,747 shares of the company’s stock valued at $510,000 after acquiring an additional 9,479 shares during the period. Sterling Capital Management LLC increased its stake in shares of INC Research by 17.3% during the third quarter. Sterling Capital Management LLC now owns 13,212 shares of the company’s stock valued at $691,000 after acquiring an additional 1,949 shares during the period. California Public Employees Retirement System increased its stake in shares of INC Research by 1.2% during the third quarter. California Public Employees Retirement System now owns 136,000 shares of the company’s stock valued at $7,113,000 after acquiring an additional 1,600 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of INC Research by 74.3% during the third quarter. Cubist Systematic Strategies LLC now owns 25,035 shares of the company’s stock valued at $1,309,000 after acquiring an additional 10,673 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of INC Research by 1,337.6% during the third quarter. Point72 Asset Management L.P. now owns 598,039 shares of the company’s stock valued at $31,277,000 after acquiring an additional 556,439 shares during the period. Institutional investors and hedge funds own 99.56% of the company’s stock.

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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.

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