Todays Report: Today, Brokerages Set INC Research Holdings Inc. (INCR) Target Price at $55.86

Today, Brokerages Set INC Research Holdings Inc. (INCR) Target Price at $55.86

INC Research Holdings Inc. (NASDAQ:INCR) has been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the firm. Four analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $55.67.

Several equities analysts have recently commented on INCR shares. Jefferies Group restated a “buy” rating and set a $56.00 price target on shares of INC Research Holdings in a report on Tuesday, November 1st. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $82.00 price target on shares of INC Research Holdings in a report on Thursday, September 8th. Finally, Zacks Investment Research cut shares of INC Research Holdings from a “buy” rating to a “hold” rating in a report on Friday, November 11th.

Shares of INC Research Holdings (NASDAQ:INCR) opened at 51.30 on Tuesday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 27.23 and a beta of 1.78. INC Research Holdings has a 12 month low of $34.19 and a 12 month high of $57.11. The stock’s 50 day moving average price is $46.99 and its 200-day moving average price is $43.98.

INC Research Holdings (NASDAQ:INCR) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. INC Research Holdings had a net margin of 6.58% and a return on equity of 49.42%. The business had revenue of $259.56 million for the quarter, compared to analysts’ expectations of $259.89 million. During the same period in the previous year, the company posted $0.58 EPS. INC Research Holdings’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that INC Research Holdings will post $2.50 earnings per share for the current fiscal year.

In other news, Director David F. Burgstahler bought 1,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was purchased at an average price of $43.19 per share, with a total value of $43,190.00. Following the transaction, the director now directly owns 36,065 shares in the company, valued at $1,557,647.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Gregory S. Rush sold 35,503 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $44.70, for a total transaction of $1,586,984.10. Following the transaction, the vice president now directly owns 82,712 shares of the company’s stock, valued at approximately $3,697,226.40. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in INC Research Holdings by 4.6% in the second quarter. BlackRock Inc. now owns 4,810 shares of the company’s stock worth $183,000 after buying an additional 213 shares in the last quarter. Acrospire Investment Management LLC raised its position in INC Research Holdings by 10.5% in the second quarter. Acrospire Investment Management LLC now owns 3,150 shares of the company’s stock worth $120,000 after buying an additional 300 shares in the last quarter. California Public Employees Retirement System raised its position in INC Research Holdings by 6.8% in the second quarter. California Public Employees Retirement System now owns 9,400 shares of the company’s stock worth $358,000 after buying an additional 600 shares in the last quarter. Argent Capital Management LLC raised its position in INC Research Holdings by 10.4% in the third quarter. Argent Capital Management LLC now owns 6,465 shares of the company’s stock worth $288,000 after buying an additional 610 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in INC Research Holdings by 1.0% in the third quarter. California State Teachers Retirement System now owns 87,738 shares of the company’s stock worth $3,911,000 after buying an additional 900 shares in the last quarter. 95.60% of the stock is owned by hedge funds and other institutional investors.

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