Charles River Laboratories International (NYSE:CRL) Trading 4.4% Higher – Time to Buy?

Charles River Laboratories International, Inc. (NYSE:CRL) shares rose 4.4% on Thursday . The company traded as high as $196.23 and last traded at $195.88. Approximately 284,658 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 595,666 shares. The stock had previously closed at $187.70.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRL shares. StockNews.com downgraded shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird lowered their target price on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. UBS Group cut their price target on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays dropped their target price on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $217.33.

Charles River Laboratories International Stock Up 0.8 %

The company has a market capitalization of $9.96 billion, a PE ratio of 23.11, a PEG ratio of 5.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. The stock’s 50 day moving average is $198.80 and its 200 day moving average is $216.62.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.39 by $0.41. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. On average, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 10.01 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Charles River Laboratories International

A number of hedge funds have recently bought and sold shares of the business. Tortoise Investment Management LLC lifted its position in shares of Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after buying an additional 57 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Charles River Laboratories International in the first quarter valued at approximately $41,000. Sunbelt Securities Inc. raised its stake in shares of Charles River Laboratories International by 1,072.7% during the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock worth $70,000 after buying an additional 236 shares during the period. Concord Wealth Partners raised its stake in Charles River Laboratories International by 362.5% in the 1st 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

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).