Brokerages Set Charles River Laboratories International, Inc. (NYSE:CRL) Target Price at $214.00

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) have earned an average recommendation of “Reduce” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $209.00.

Several analysts have recently issued reports on CRL shares. Robert W. Baird reduced their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. CLSA lowered shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a report on Monday, November 18th. StockNews.com cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. William Blair reiterated an “outperform” rating on shares of Charles River Laboratories International in a research report on Tuesday. Finally, Citigroup downgraded shares of Charles River Laboratories International from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $215.00 to $175.00 in a research report on Tuesday, October 1st.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $163.77 on Monday. 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 firm has a market cap of $8.37 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 6.62 and a beta of 1.38. Charles River Laboratories International has a 52 week low of $160.85 and a 52 week high of $275.00. The firm’s 50-day simple moving average is $190.64 and its 200 day simple moving average is $198.44.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.72 earnings per share. As a group, sell-side analysts predict that Charles River Laboratories International will post 10.18 earnings per share for the current year.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Charles River Laboratories International by 135,927.9% during the third quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock valued at $736,819,000 after acquiring an additional 3,738,018 shares during the last quarter. State Street Corp lifted its holdings in Charles River Laboratories International by 2.0% during the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock worth $419,601,000 after buying an additional 41,421 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Charles River Laboratories International by 1.7% in the 2nd 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. Allspring Global Investments Holdings LLC raised its position in shares of Charles River Laboratories International by 40.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after acquiring an additional 509,163 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after acquiring an additional 110,725 shares during the last quarter. 98.91% of the stock is owned by institutional investors.

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).