Charles River Laboratories International (NYSE:CRL) Shares Gap Up – Time to Buy?

Charles River Laboratories International, Inc. (NYSE:CRL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $197.06, but opened at $202.20. Charles River Laboratories International shares last traded at $201.77, with a volume of 2,396 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRL. Weiss Ratings reissued a “sell (d)” rating on shares of Charles River Laboratories International in a report on Wednesday, October 8th. TD Cowen decreased their price target on shares of Charles River Laboratories International from $205.00 to $197.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Barclays boosted their price objective on shares of Charles River Laboratories International from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on shares of Charles River Laboratories International from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Finally, William Blair upgraded shares of Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.93.

Charles River Laboratories International Price Performance

The company has a quick ratio of 1.10, a current ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average price is $181.78 and its 200-day moving average price is $166.80. The stock has a market cap of $10.00 billion, a P/E ratio of -130.22, a PEG ratio of 6.36 and a beta of 1.63.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 5th. The medical research company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.11. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $990.43 million. Charles River Laboratories International had a negative net margin of 2.07% and a positive return on equity of 15.78%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.59 EPS. Analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRL. Cromwell Holdings LLC grew its position in shares of Charles River Laboratories International by 542.9% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock worth $27,000 after buying an additional 152 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Charles River Laboratories International by 82.4% during the third quarter. Rothschild Investment LLC now owns 186 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 84 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Charles River Laboratories International during the second quarter valued at approximately $29,000. Atlantic Union Bankshares Corp purchased a new stake in Charles River Laboratories International in the third quarter worth $31,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Charles River Laboratories International by 98.0% in the second quarter. Geneos Wealth Management Inc. now owns 293 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a leading provider of research models and preclinical and clinical support services for the pharmaceutical, biotechnology and medical device industries. The company’s core offerings include discovery, safety assessment, toxicology, and pathology services, as well as supply of laboratory animals and related diagnostics. Services extend across in vivo and in vitro testing, biologics testing, and support for advanced therapies, helping clients accelerate drug development from early discovery through regulatory submission.

Founded in 1947 in Wilmington, Massachusetts, Charles River has grown through strategic investments and acquisitions to establish a broad portfolio of capabilities.