Charles River Laboratories International (NYSE:CRL) Shares Gap Up on Earnings Beat

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $154.39, but opened at $159.28. Charles River Laboratories International shares last traded at $160.76, with a volume of 152,366 shares.

The medical research company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.50 by $0.16. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays decreased their target price on Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating for the company in a research note on Tuesday. CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a research report on Monday, November 18th. The Goldman Sachs Group dropped their price target on Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Bank of America cut their target price on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Evercore ISI lifted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International presently has an average rating of “Hold” and an average target price of $197.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Charles River Laboratories International during the 4th quarter valued at $227,000. GTS Securities LLC grew its stake in Charles River Laboratories International by 33.1% in the 4th quarter. GTS Securities LLC now owns 2,151 shares of the medical research company’s stock worth $397,000 after acquiring an additional 535 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Charles River Laboratories International by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,250 shares of the medical research company’s stock valued at $55,057,000 after acquiring an additional 46,994 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Charles River Laboratories International by 107.0% in the fourth quarter. Voloridge Investment Management LLC now owns 156,574 shares of the medical research company’s stock worth $28,904,000 after purchasing an additional 80,918 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Charles River Laboratories International in the fourth quarter valued at about $24,446,000. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Stock Up 5.5 %

The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 5.91 and a beta of 1.37. The business’s 50-day moving average is $174.59 and its 200-day moving average is $189.16. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61.

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).