INC Research’s (INCR) “Market Perform” Rating Reiterated at KeyCorp

INC Research (NASDAQ:INCR)‘s stock had its “market perform” rating reaffirmed by investment analysts at KeyCorp in a research note issued to investors on Monday, November 13th, The Fly reports. They currently have a $46.00 price target on the stock, down from their prior price target of $68.00. KeyCorp’s price target suggests a potential upside of 21.53% from the stock’s previous close.

Several other analysts have also weighed in on the company. TheStreet lowered INC Research from a “b” rating to a “c” rating in a report on Friday, July 28th. Jefferies Group reissued a “buy” rating and set a $55.00 price objective on shares of INC Research in a report on Friday, November 10th. Robert W. Baird lowered INC Research to an “outperform” rating and decreased their price objective for the stock from $67.00 to $46.00 in a report on Friday, November 10th. BidaskClub lowered INC Research from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Credit Suisse Group initiated coverage on INC Research in a report on Wednesday, October 11th. They set an “outperform” rating and a $68.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. INC Research presently has a consensus rating of “Hold” and a consensus target price of $52.67.

INC Research (INCR) traded down $0.45 on Monday, reaching $37.85. The company’s stock had a trading volume of 1,387,619 shares, compared to its average volume of 1,554,113. The firm has a market cap of $3,996.41, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.27 and a quick ratio of 1.27. INC Research has a 12-month low of $33.60 and a 12-month high of $61.10.

INC Research (NASDAQ:INCR) last released 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). The business 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%. The business’s quarterly revenue was up 128.2% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. equities research analysts expect that INC Research will post 2.15 EPS for the current year.

In related news, CFO Gregory S. Rush sold 9,703 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 78,593 shares in the company, valued at approximately $4,281,746.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alistair Macdonald sold 2,348 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $54.60, for a total value of $128,200.80. Following the transaction, the chief executive officer now owns 99,453 shares of the company’s stock, valued at approximately $5,430,133.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,733 shares of company stock valued at $912,270 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in INC Research by 3,536.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,747 shares of the company’s stock valued at $510,000 after purchasing an additional 9,479 shares during the last quarter. Sterling Capital Management LLC raised its position in INC Research by 17.3% in the 3rd quarter. Sterling Capital Management LLC now owns 13,212 shares of the company’s stock valued at $691,000 after purchasing an additional 1,949 shares during the last quarter. California Public Employees Retirement System raised its position in INC Research by 1.2% in the 3rd quarter. California Public Employees Retirement System now owns 136,000 shares of the company’s stock valued at $7,113,000 after purchasing an additional 1,600 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in INC Research by 74.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 25,035 shares of the company’s stock valued at $1,309,000 after purchasing an additional 10,673 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in INC Research by 1,337.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 598,039 shares of the company’s stock valued at $31,277,000 after purchasing an additional 556,439 shares during the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.

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About INC Research

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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Analyst Recommendations for INC Research (NASDAQ:INCR)

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