Investment analysts at Barclays initiated coverage on shares of INC Research (NASDAQ:INCR) in a note issued to investors on Monday, December 11th, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $40.00 price target on the stock. Barclays’ price objective would suggest a potential downside of 9.30% from the company’s current price.
INCR has been the subject of a number of other reports. Zacks Investment Research lowered shares of INC Research from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Credit Suisse Group initiated coverage on shares of INC Research in a report on Wednesday, October 11th. They set an “outperform” rating and a $68.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of INC Research in a report on Friday, November 10th. TheStreet raised shares of INC Research from a “c” rating to a “b-” rating in a report on Monday, November 6th. Finally, KeyCorp reaffirmed a “market perform” rating and set a $46.00 price objective (down from $68.00) on shares of INC Research in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.56.
INC Research (INCR) traded up $0.50 during midday trading on Monday, reaching $44.10. 1,067,071 shares of the company’s stock were exchanged, compared to its average volume of 1,080,000. INC Research has a 12 month low of $33.60 and a 12 month high of $61.10. The company has a market cap of $4,600.00, a PE ratio of -77.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.27 and a current ratio of 1.27.
INC Research (NASDAQ:INCR) last released its earnings results on Thursday, November 9th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $592.21 million for the quarter, compared to the consensus estimate of $604.95 million. During the same quarter in the previous year, the business posted $0.64 EPS. INC Research’s revenue was up 128.2% on a year-over-year basis. sell-side analysts predict that INC Research will post 2.15 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of INC Research by 14.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after purchasing an additional 228 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of INC Research in the second quarter valued at $123,000. Riverhead Capital Management LLC purchased a new position in shares of INC Research in the second quarter valued at $128,000. Victory Capital Management Inc. grew its holdings in shares of INC Research by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock valued at $139,000 after purchasing an additional 356 shares in the last quarter. Finally, Shelton Capital Management purchased a new position in shares of INC Research in the second quarter valued at $247,000. 99.50% of the stock is owned by hedge funds and other institutional investors.
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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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