TD Cowen Lowers Charles River Laboratories International (NYSE:CRL) Price Target to $197.00

Charles River Laboratories International (NYSE:CRL) had its price objective decreased by research analysts at TD Cowen from $205.00 to $197.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price objective would indicate a potential upside of 16.14% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Robert W. Baird raised shares of Charles River Laboratories International from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $178.00 to $199.00 in a research note on Thursday. Evercore ISI boosted their price objective on Charles River Laboratories International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. William Blair raised Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a report on Monday, October 6th. Jefferies Financial Group raised Charles River Laboratories International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $142.00 to $195.00 in a research note on Tuesday, September 9th. Finally, Baird R W upgraded Charles River Laboratories International from a “hold” rating to a “strong-buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles River Laboratories International has an average rating of “Moderate Buy” and a consensus price target of $188.21.

Charles River Laboratories International Price Performance

Shares of CRL stock traded up $1.57 during mid-day trading on Monday, hitting $169.62. 300,932 shares of the stock were exchanged, compared to its average volume of 1,194,290. Charles River Laboratories International has a 52-week low of $91.86 and a 52-week high of $222.10. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The company has a market cap of $8.35 billion, a PE ratio of -127.67, a price-to-earnings-growth ratio of 4.83 and a beta of 1.53. The firm has a fifty day moving average of $168.00 and a 200 day moving average of $155.67.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.11. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $990.43 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. Research analysts anticipate that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insider Buying and Selling at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the transaction, the executive vice president owned 24,116 shares of the company’s stock, valued at approximately $3,800,681.60. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Charles River Laboratories International by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,839,743 shares of the medical research company’s stock worth $913,686,000 after buying an additional 27,989 shares during the last quarter. Wellington Management Group LLP grew its position in Charles River Laboratories International by 5.1% in the first quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company’s stock worth $644,980,000 after acquiring an additional 208,586 shares during the period. Allspring Global Investments Holdings LLC grew its position in Charles River Laboratories International by 29.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,291,126 shares of the medical research company’s stock worth $353,750,000 after acquiring an additional 516,521 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Charles River Laboratories International by 8.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,950,273 shares of the medical research company’s stock worth $293,555,000 after acquiring an additional 144,732 shares during the last quarter. Finally, Ariel Investments LLC raised its position in Charles River Laboratories International by 28.6% in the second quarter. Ariel Investments LLC now owns 1,415,348 shares of the medical research company’s stock valued at $214,751,000 after purchasing an additional 314,572 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).