Zacks Investment Research Lowers INC Research Holdings, Inc. (INCR) to Strong Sell

Zacks Investment Research lowered shares of INC Research Holdings, Inc. (NASDAQ:INCR) from a hold rating to a strong sell rating in a research note published on Thursday.

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. “

Several other brokerages also recently issued reports on INCR. TheStreet upgraded shares of INC Research Holdings from a c rating to a b- rating in a research note on Monday, November 6th. BidaskClub downgraded shares of INC Research Holdings from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a hold rating and issued a $62.50 target price on shares of INC Research Holdings in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $65.00 target price on shares of INC Research Holdings in a research note on Monday, August 7th. Finally, Credit Suisse Group began coverage on shares of INC Research Holdings in a research note on Wednesday, October 11th. They issued an outperform rating and a $68.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $56.33.

Shares of INC Research Holdings (NASDAQ INCR) traded down $0.25 during midday trading on Thursday, hitting $37.75. The stock had a trading volume of 1,642,576 shares, compared to its average volume of 1,236,566. The company has a market cap of $3,939.02, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36. 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 Holdings has a 12 month low of $33.60 and a 12 month high of $61.10.

INC Research Holdings (NASDAQ:INCR) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $592.21 million during the quarter, compared to the consensus estimate of $604.95 million. During the same quarter in the previous year, the business earned $0.64 EPS. INC Research Holdings’s revenue was up 128.2% on a year-over-year basis. sell-side analysts anticipate that INC Research Holdings will post 2.15 earnings per share for the current fiscal year.

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In other INC Research Holdings news, CEO Alistair Macdonald sold 2,348 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $54.60, for a total transaction of $128,200.80. Following the completion of the sale, the chief executive officer now directly owns 99,453 shares in the company, valued at $5,430,133.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory S. Rush sold 41,420 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.26, for a total transaction of $2,413,129.20. Following the sale, the chief financial officer now owns 42,793 shares of the company’s stock, valued at $2,493,120.18. The disclosure for this sale can be found here. Insiders have sold 189,493 shares of company stock valued at $11,059,514 over the last 90 days. Company insiders own 0.24% of the company’s stock.

A number of hedge funds have recently modified their holdings of INCR. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in INC Research Holdings by 14.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock worth $103,000 after acquiring an additional 228 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in INC Research Holdings during the second quarter worth approximately $123,000. Riverhead Capital Management LLC acquired a new stake in INC Research Holdings during the second quarter worth approximately $128,000. Victory Capital Management Inc. lifted its position in INC Research Holdings by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock worth $139,000 after acquiring an additional 356 shares during the last quarter. Finally, Personal Capital Advisors Corp acquired a new stake in INC Research Holdings during the third quarter worth approximately $234,000. Hedge funds and other institutional investors own 77.75% 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.

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