Charles River Laboratories International (NYSE:CRL) Trading Down 3.4% – Should You Sell?

Charles River Laboratories International, Inc. (NYSE:CRL)’s stock price dropped 3.4% during trading on Thursday . The stock traded as low as $164.55 and last traded at $167.95. Approximately 127,730 shares traded hands during trading, a decline of 82% from the average daily volume of 712,822 shares. The stock had previously closed at $173.88.

Analysts Set New Price Targets

CRL has been the topic of several recent research reports. Redburn Atlantic upgraded shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 target price on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $190.00 to $170.00 in a research report on Friday. Robert W. Baird dropped their price target on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. UBS Group restated a “neutral” rating and issued a $185.00 price target (down previously from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to MarketBeat, Charles River Laboratories International currently has a consensus rating of “Hold” and a consensus target price of $189.77.

Charles River Laboratories International Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a market cap of $8.55 billion, a P/E ratio of 1,115.26, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. The company’s 50 day moving average price is $166.11 and its 200-day moving average price is $183.77.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.16. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $983.63 million. During the same quarter in the prior year, the business posted $2.46 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO James C. Foster purchased 6,075 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $165.01 per share, with a total value of $1,002,435.75. Following the acquisition, the chief executive officer now owns 183,639 shares of the company’s stock, valued at $30,302,271.39. This represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Birgit Girshick purchased 1,514 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the acquisition, the chief operating officer now directly owns 55,058 shares in the company, valued at $9,064,198.54. The trade was a 2.83 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in shares of Charles River Laboratories International by 1,071.4% during the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after buying an additional 150 shares during the period. Pinnacle Bancorp Inc. increased its position in shares of 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 worth $35,000 after purchasing an additional 65 shares during the last quarter. Optiver Holding B.V. bought a new position in Charles River Laboratories International during the fourth quarter valued at approximately $37,000. GeoWealth Management LLC grew its position in Charles River Laboratories International by 311.5% during the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 190 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Charles River Laboratories International during the fourth quarter valued at approximately $48,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

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).