Charles River Laboratories International (NYSE:CRL) Hits New 1-Year High – What’s Next?

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) hit a new 52-week high on Monday . The company traded as high as $201.58 and last traded at $201.87, with a volume of 59600 shares changing hands. The stock had previously closed at $197.06.

Analyst Ratings Changes

A number of brokerages recently commented on CRL. TD Cowen lowered their price objective 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. Morgan Stanley set a $185.00 price target on shares of Charles River Laboratories International in a research report on Monday, December 1st. Argus set a $200.00 price objective on Charles River Laboratories International in a research report on Monday, November 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Charles River Laboratories International in a report on Wednesday, October 8th. Finally, William Blair raised Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.93.

Charles River Laboratories International Stock Up 3.0%

The firm has a market cap of $9.99 billion, a price-to-earnings ratio of -130.32, a PEG ratio of 6.96 and a beta of 1.63. 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 has a fifty day moving average price of $179.84 and a 200-day moving average price of $165.70.

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

Hedge Funds Weigh In On Charles River Laboratories International

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Charles River Laboratories International by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,839,743 shares of the medical research company’s stock valued at $913,686,000 after purchasing an additional 27,989 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Charles River Laboratories International by 29.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,291,126 shares of the medical research company’s stock valued at $353,750,000 after buying an additional 516,521 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Charles River Laboratories International by 8.0% during the 1st 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 buying an additional 144,732 shares during the last quarter. Ariel Investments LLC grew its position in shares of Charles River Laboratories International by 28.6% in the 2nd quarter. Ariel Investments LLC now owns 1,415,348 shares of the medical research company’s stock worth $214,751,000 after acquiring an additional 314,572 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Charles River Laboratories International by 1.0% during the third quarter. Invesco Ltd. now owns 1,249,178 shares of the medical research company’s stock valued at $195,446,000 after purchasing an additional 12,035 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

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.