Charles River Laboratories International (NYSE:CRL) Receives New Coverage from Analysts at CLSA

CLSA started coverage on shares of Charles River Laboratories International (NYSE:CRL) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “underperform” rating and a $167.00 price target on the medical research company’s stock. CLSA’s price target suggests a potential downside of 10.15% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Barclays reduced their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group cut their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Bank of America cut Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Finally, StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $209.00.

Charles River Laboratories International Trading Down 4.7 %

CRL stock opened at $185.87 on Wednesday. Charles River Laboratories International has a 12-month low of $161.65 and a 12-month high of $275.00. The business’s 50-day moving average is $197.22 and its 200 day moving average is $213.02. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 5.11 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.03 billion. On average, sell-side analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Charles River Laboratories International

Several large investors have recently made changes to their positions in the stock. Park Avenue Securities LLC raised its position in Charles River Laboratories International by 5.6% in the first quarter. Park Avenue Securities LLC now owns 3,815 shares of the medical research company’s stock valued at $1,034,000 after purchasing an additional 203 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Charles River Laboratories International by 1,072.7% in the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after buying an additional 236 shares during the period. Thrive Wealth Management LLC raised its holdings in shares of Charles River Laboratories International by 11.4% in the 1st quarter. Thrive Wealth Management LLC now owns 1,076 shares of the medical research company’s stock valued at $292,000 after buying an additional 110 shares during the period. Dumont & Blake Investment Advisors LLC lifted its stake in Charles River Laboratories International by 1.4% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,415 shares of the medical research company’s stock worth $1,196,000 after acquiring an additional 62 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its holdings in Charles River Laboratories International by 0.9% during the 1st quarter. Congress Wealth Management LLC DE now owns 54,316 shares of the medical research company’s stock valued at $14,717,000 after acquiring an additional 500 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.

About Charles River Laboratories International

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).