Charles River Laboratories International (NYSE:CRL) Sees Strong Trading Volume – Still a Buy?

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) saw unusually-high trading volume on Thursday . Approximately 252,621 shares were traded during trading, a decline of 67% from the previous session’s volume of 758,777 shares.The stock last traded at $162.49 and had previously closed at $173.91.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRL. Citigroup lowered shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $215.00 to $175.00 in a research note on Tuesday, October 1st. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird decreased their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. William Blair restated an “outperform” rating on shares of Charles River Laboratories International in a research report on Tuesday. Finally, Redburn Atlantic started coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $209.00.

Charles River Laboratories International Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The stock has a 50-day moving average price of $190.64 and a 200-day moving average price of $198.44. The stock has a market cap of $8.37 billion, a P/E ratio of 20.50, a P/E/G ratio of 6.62 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. During the same quarter in the prior year, the firm earned $2.72 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Charles River Laboratories International, Inc. will post 10.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value of $1,430,930.52. Following the transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles River Laboratories International

Several institutional investors have recently added to or reduced their stakes in CRL. Empirical Finance LLC boosted its holdings in shares of Charles River Laboratories International by 4.2% during the third quarter. Empirical Finance LLC now owns 1,310 shares of the medical research company’s stock worth $258,000 after purchasing an additional 53 shares during the period. American Trust lifted its holdings in Charles River Laboratories International by 5.9% in the 2nd quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after buying an additional 54 shares during the period. OLD National Bancorp IN raised its holdings in shares of Charles River Laboratories International by 3.1% during the third quarter. OLD National Bancorp IN now owns 1,988 shares of the medical research company’s stock valued at $392,000 after acquiring an additional 59 shares in the last quarter. Fiduciary Financial Group LLC raised its holdings in shares of Charles River Laboratories International by 3.9% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company’s stock valued at $310,000 after acquiring an additional 63 shares in the last quarter. Finally, Pinnacle Bancorp Inc. boosted its holdings in Charles River Laboratories International by 52.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

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).