Robert W. Baird Lowers Charles River Laboratories International (NYSE:CRL) Price Target to $190.00

Charles River Laboratories International (NYSE:CRL) had its price target cut by analysts at Robert W. Baird from $191.00 to $190.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s price target suggests a potential downside of 7.67% from the stock’s current price.

Several other equities analysts have also recently issued reports on CRL. Baird R W cut shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Mizuho assumed coverage on shares of Charles River Laboratories International in a research note on Friday, June 7th. They set a “neutral” rating and a $235.00 target price on the stock. StockNews.com upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group lowered their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays dropped their price objective on shares of 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. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $230.93.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock opened at $205.79 on Friday. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.89 and a beta of 1.36. The firm’s 50-day moving average is $209.34 and its 200 day moving average is $223.80. Charles River Laboratories International has a 1 year low of $161.65 and a 1 year high of $275.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21.

Charles River Laboratories International (NYSE:CRL) last announced 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. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. 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 has approved 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 reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Charles River Laboratories International by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock worth $1,638,290,000 after acquiring an additional 66,161 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock valued at $394,359,000 after buying an additional 31,359 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Charles River Laboratories International by 3.1% during the first quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock valued at $409,985,000 after buying an additional 45,079 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Charles River Laboratories International by 11.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock valued at $258,559,000 after buying an additional 132,802 shares during the last quarter. Finally, Meritage Group LP raised its position in shares of Charles River Laboratories International by 2.3% during the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after buying an additional 26,892 shares during the last quarter. 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).