INC Research Holdings, Inc. (INCR) Cut to Market Perform at William Blair

INC Research Holdings, Inc. (NASDAQ:INCR) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, The Fly reports.

A number of other research analysts have also weighed in on INCR. Jefferies Group LLC restated a “buy” rating and set a $62.00 price objective on shares of INC Research Holdings in a research report on Friday. KeyCorp upgraded INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 price target for the company in a research report on Monday, June 5th. SunTrust Banks, Inc. upgraded INC Research Holdings from a “hold” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $67.00 in a research report on Wednesday, May 31st. Goldman Sachs Group, Inc. (The) lowered INC Research Holdings from a “conviction-buy” rating to a “buy” rating and set a $51.00 price target for the company. in a research report on Wednesday, March 1st. Finally, Zacks Investment Research lowered INC Research Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.38.

Analyst Recommendations for INC Research Holdings (NASDAQ:INCR)

INC Research Holdings (NASDAQ INCR) opened at 60.65 on Tuesday. The stock has a 50 day moving average price of $54.46 and a 200-day moving average price of $50.33. The stock has a market capitalization of $3.28 billion, a PE ratio of 28.85 and a beta of 1.47. INC Research Holdings has a 12-month low of $36.70 and a 12-month high of $61.10.

INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings data on Wednesday, May 10th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $252.10 million during the quarter, compared to analyst estimates of $250.76 million. INC Research Holdings had a return on equity of 43.17% and a net margin of 7.37%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. On average, equities analysts anticipate that INC Research Holdings will post $2.69 earnings per share for the current fiscal year.

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In related news, CEO Alistair Macdonald sold 9,467 shares of INC Research Holdings stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $45.00, for a total value of $426,015.00. Following the completion of the transaction, the chief executive officer now owns 83,935 shares in the company, valued at $3,777,075. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Gaenzle sold 4,733 shares of INC Research Holdings stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $45.70, for a total value of $216,298.10. Following the completion of the transaction, the chief accounting officer now owns 53,050 shares of the company’s stock, valued at approximately $2,424,385. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TradeLink Capital LLC acquired a new position in shares of INC Research Holdings during the first quarter valued at about $789,000. FMR LLC acquired a new position in shares of INC Research Holdings during the fourth quarter valued at about $13,618,000. Hudson Bay Capital Management LP acquired a new position in shares of INC Research Holdings during the fourth quarter valued at about $10,273,000. State Board of Administration of Florida Retirement System raised its position in shares of INC Research Holdings by 6.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,843 shares of the company’s stock valued at $781,000 after buying an additional 840 shares during the period. Finally, Alambic Investment Management L.P. raised its position in shares of INC Research Holdings by 301.9% in the first quarter. Alambic Investment Management L.P. now owns 42,600 shares of the company’s stock valued at $1,953,000 after buying an additional 32,000 shares during the period. Institutional investors and hedge funds own 98.70% of the company’s stock.

About INC Research Holdings

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:INCR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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