INC Research Stake Inc (INCR) Boosted to “Purchase” at SunTrust Banks, Inc.

INC Research Stake Inc (INCR) Boosted to “Purchase” at SunTrust Banks, Inc.

SunTrust Banks, Inc. upgraded shares of INC Research Holdings Inc (NASDAQ:INCR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. SunTrust Banks, Inc. currently has $67.00 target price on the stock, up from their previous target price of $48.00.

Other research analysts have also recently issued reports about the company. Jefferies Group LLC reiterated a buy rating on shares of INC Research Holdings in a research note on Thursday, May 11th. Robert W. Baird raised INC Research Holdings from a neutral rating to an outperform rating and raised their target price for the stock from $46.00 to $66.00 in a research report on Thursday, May 11th. Zacks Investment Research lowered INC Research Holdings from a hold rating to a sell rating in a research report on Tuesday, May 16th. TheStreet raised INC Research Holdings from a c rating to a b- rating in a research report on Monday, April 17th. Finally, Wells Fargo & Co lowered INC Research Holdings from an outperform rating to a market perform rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $57.71.

Shares of INC Research Holdings (NASDAQ:INCR) opened at 57.95 on Wednesday. The firm has a 50-day moving average price of $49.85 and a 200-day moving average price of $49.61. INC Research Holdings has a 12-month low of $36.70 and a 12-month high of $59.45. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 27.57 and a beta of 1.74.

INC Research Holdings (NASDAQ:INCR) last posted its earnings results on Wednesday, May 10th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. The company had revenue of $252.10 million for the quarter, compared to the consensus estimate of $250.76 million. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Equities research analysts anticipate that INC Research Holdings will post $2.68 EPS for the current year.

In other INC Research Holdings news, CAO Christopher L. Gaenzle sold 4,733 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $45.70, for a total transaction of $216,298.10. Following the sale, the chief accounting officer now owns 53,050 shares of the company’s stock, valued at approximately $2,424,385. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alistair Macdonald sold 9,467 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $426,015.00. Following the sale, the chief executive officer now directly owns 83,935 shares in the company, valued at approximately $3,777,075. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new position in INC Research Holdings during the fourth quarter worth approximately $109,000. Invictus RG purchased a new position in INC Research Holdings during the first quarter worth approximately $115,000. Crow Point Partners LLC purchased a new position in INC Research Holdings during the third quarter worth approximately $116,000. Foresters Investment Management Company Inc. purchased a new position in INC Research Holdings during the first quarter worth approximately $128,000. Finally, Fifth Third Bancorp raised its position in INC Research Holdings by 5.4% in the first quarter. Fifth Third Bancorp now owns 2,904 shares of the company’s stock worth $133,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 99.79% 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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