Charles River Laboratories International (NYSE:CRL) Shares Gap Up – What’s Next?

Charles River Laboratories International, Inc. (NYSE:CRL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $162.00, but opened at $167.50. Charles River Laboratories International shares last traded at $156.82, with a volume of 267,965 shares traded.

Wall Street Analysts Forecast Growth

CRL has been the topic of several recent research reports. Wall Street Zen downgraded Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Redburn Atlantic raised shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $188.00 to $182.00 in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Cowen raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and upped their price target for the stock from $142.00 to $195.00 in a report on Tuesday. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and an average target price of $177.07.

Charles River Laboratories International Stock Down 2.6%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10. The company has a 50 day moving average of $160.83 and a 200-day moving average of $148.92. The company has a market capitalization of $7.77 billion, a P/E ratio of -118.59, a PEG ratio of 5.24 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. During the same period last year, the business posted $2.80 earnings per share. Charles River Laboratories International’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insider Buying and Selling

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the completion of the sale, the executive vice president directly owned 24,116 shares in the company, valued at $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of Charles River Laboratories International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC lifted its holdings in Charles River Laboratories International by 480.0% in the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company’s stock worth $26,000 after buying an additional 144 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Charles River Laboratories International by 93.5% during the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Charles River Laboratories International by 542.9% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 152 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Charles River Laboratories International during the second quarter valued at approximately $29,000. Finally, HM Payson & Co. purchased a new position in shares of Charles River Laboratories International during the first quarter valued at approximately $31,000. 98.91% of the stock is currently owned by hedge funds and other 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).