Charles River Laboratories International (NYSE:CRL) Rating Increased to Buy at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Charles River Laboratories International (NYSE:CRL – Free Report) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other brokerages have also recently issued reports on CRL. Redburn Atlantic started coverage on shares of Charles River Laboratories International in a report on Monday, October 14th. They issued a “sell” rating and a $151.00 target price for the company. The Goldman Sachs Group lowered their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Argus restated a “hold” rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. Finally, Robert W. Baird dropped their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $212.23.

View Our Latest Stock Analysis on Charles River Laboratories International

Charles River Laboratories International Trading Down 0.0 %

Shares of Charles River Laboratories International stock opened at $197.77 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $197.20 and its 200-day simple moving average is $213.73. The stock has a market cap of $10.19 billion, a P/E ratio of 23.27, a P/E/G ratio of 5.11 and a beta of 1.36. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00.

Charles River Laboratories International (NYSE:CRL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Analysts predict that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International announced that its board has authorized a share repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Charles River Laboratories International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tortoise Investment Management LLC boosted its stake in Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 57 shares during the last quarter. Wolff Wiese Magana LLC bought a new position in Charles River Laboratories International in the third quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new position in Charles River Laboratories International during the first quarter worth $41,000. Whittier Trust Co. of Nevada Inc. increased its position in Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares during the last quarter. Finally, Concord Wealth Partners raised its position in shares of Charles River Laboratories International by 362.5% in the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 203 shares during the period. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

(Get Free Report)

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).

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