Charles River Laboratories International (NYSE:CRL – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.
Other research analysts have also recently issued research reports about the stock. Credit Suisse Group decreased their price target on shares of Charles River Laboratories International from $280.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Jefferies Financial Group dropped their target price on Charles River Laboratories International from $233.00 to $203.00 and set a “hold” rating on the stock in a research report on Tuesday, March 28th. Morgan Stanley decreased their price objective on shares of Charles River Laboratories International from $241.00 to $230.00 and set an “equal weight” rating for the company in a research note on Thursday, February 23rd. Robert W. Baird increased their price objective on shares of Charles River Laboratories International from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 11th. Finally, Guggenheim upgraded shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and set a $255.00 target price for the company in a research report on Thursday, February 23rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International has an average rating of “Moderate Buy” and a consensus price target of $267.75.
Charles River Laboratories International Price Performance
CRL opened at $195.74 on Thursday. Charles River Laboratories International has a 1 year low of $181.36 and a 1 year high of $308.15. The firm has a market capitalization of $10.02 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.32 and a quick ratio of 1.08. The business’s 50-day moving average is $223.06 and its two-hundred day moving average is $220.01.
Charles River Laboratories International (NYSE:CRL – Get Rating) last posted its earnings results on Wednesday, February 22nd. The medical research company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.23. Charles River Laboratories International had a net margin of 12.23% and a return on equity of 20.98%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company posted $2.49 earnings per share. Charles River Laboratories International’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts anticipate that Charles River Laboratories International will post 10.2 earnings per share for the current fiscal year.
Insider Transactions at Charles River Laboratories International
In other news, EVP Shannon M. Parisotto sold 4,558 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $254.41, for a total value of $1,159,600.78. Following the completion of the sale, the executive vice president now directly owns 6,010 shares in the company, valued at $1,529,004.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles River Laboratories International news, EVP Shannon M. Parisotto sold 4,558 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $254.41, for a total value of $1,159,600.78. Following the transaction, the executive vice president now directly owns 6,010 shares in the company, valued at approximately $1,529,004.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Birgit Girshick sold 3,205 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $254.39, for a total transaction of $815,319.95. Following the sale, the chief operating officer now owns 41,038 shares of the company’s stock, valued at approximately $10,439,656.82. The disclosure for this sale can be found here. Insiders sold 27,763 shares of company stock valued at $6,974,921 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Charles River Laboratories International by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,935,727 shares of the medical research company’s stock worth $1,685,568,000 after buying an additional 66,602 shares during the period. State Street Corp boosted its stake in shares of Charles River Laboratories International by 0.9% in the 3rd quarter. State Street Corp now owns 2,031,141 shares of the medical research company’s stock valued at $399,729,000 after buying an additional 19,084 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Charles River Laboratories International by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,852,503 shares of the medical research company’s stock worth $403,661,000 after buying an additional 266,004 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Charles River Laboratories International by 1.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,632,261 shares of the medical research company’s stock worth $321,229,000 after buying an additional 22,434 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC purchased a new position in Charles River Laboratories International in the fourth quarter valued at $298,877,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.
About Charles River Laboratories International
Charles River Laboratories International, Inc is an early-stage contract research company, which provides research models required in the research and development of new drugs, devices, and therapies. It operates through the following segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions.